0001558235-20-000012.txt : 20200513 0001558235-20-000012.hdr.sgml : 20200513 20200512184905 ACCESSION NUMBER: 0001558235-20-000012 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 84 CONFORMED PERIOD OF REPORT: 20200331 FILED AS OF DATE: 20200513 DATE AS OF CHANGE: 20200512 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORPORATE PROPERTY ASSOCIATES 18 GLOBAL INC CENTRAL INDEX KEY: 0001558235 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-54970 FILM NUMBER: 20870583 BUSINESS ADDRESS: STREET 1: 50 Rockefeller Plaza CITY: New York STATE: NY ZIP: 10020 BUSINESS PHONE: 212-492-1100 MAIL ADDRESS: STREET 1: 50 Rockefeller Plaza CITY: New York STATE: NY ZIP: 10020 10-Q 1 cpa182020q110-q.htm 10-Q Document


 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
þ
 
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
 
 
 
For the quarterly period ended March 31, 2020
 
 
 
or
 
 
 
o
 
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 
 
 
 
 
For the transition period from                     to                       

Commission File Number: 000-54970
cpa18logoa01a01a37.jpg
CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED
(Exact name of registrant as specified in its charter)
Maryland
 
90-0885534
(State of incorporation)
 
(I.R.S. Employer Identification No.)
 
 
 
50 Rockefeller Plaza
 
 
New York, New York
 
10020
(Address of principal executive offices)
 
(Zip Code)
Investor Relations (212) 492-8920
(212) 492-1100
(Registrant’s telephone numbers, including area code)

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer o
Accelerated filer o
Non-accelerated filer þ
 
 
 
Smaller reporting company o
Emerging growth company o
 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ

Registrant has 118,621,016 shares of Class A common stock, $0.001 par value, and 32,549,043 shares of Class C common stock, $0.001 par value, outstanding at May 8, 2020.




INDEX
 
 
Page No.
PART I — FINANCIAL INFORMATION
 
Item 1. Financial Statements (Unaudited)
 
 
 
 
 
 
 
 
 
PART II — OTHER INFORMATION
 
Item 1A. Risk Factors
Item 6. Exhibits

Forward-Looking Statements

This Quarterly Report on Form 10-Q (this “Report”), including Management’s Discussion and Analysis of Financial Condition and Results of Operations in Item 2 of Part I of this Report, contains forward-looking statements within the meaning of the federal securities laws.

These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements include, but are not limited to, statements regarding: our corporate strategy and estimated or future economic performance and results, the timing of any future liquidity event, underlying assumptions about our portfolio (e.g. occupancy rate, lease terms, and tenant credit quality, including our expectations about tenant bankruptcies and interest coverage), expectations about tenant rent collections, potential holding periods for our investments (including possible dispositions), our international exposure; our future capital expenditure levels, including any plans to fund our future liquidity needs, and future leverage and debt service obligations; statements that we make regarding our ability to remain qualified for taxation as a real estate investment trust (“REIT”); our expectations regarding the impact on our business, tenants, and prospects in light of the outbreak of the novel coronavirus (“COVID-19”) and the various effects in connection therewith, as well as the measures taken to prevent its spread; and the impact of recently issued accounting pronouncements and other regulatory activity.



CPA:18 – Global 3/31/2020 10-Q – 1

These statements are based on the current expectations of our management. It is important to note that our actual results could be materially different from those projected in such forward-looking statements. There are a number of risks and uncertainties that could cause actual results to differ materially from these forward-looking statements. Other unknown or unpredictable risks or uncertainties, like the risks related to effects of pandemics and global outbreaks of contagious diseases or the fear of such outbreaks, like the current COVID-19 pandemic and those additional factors discussed in reports filed with the SEC by us under the heading “Risk Factors” could also have material adverse effects on our business, financial condition, liquidity, results of operations, Modified funds from operations (“MFFO”), and prospects. You should exercise caution in relying on forward-looking statements as they involve known and unknown risks, uncertainties, and other factors that may materially affect our future results, performance, achievements, or transactions. Information on factors that could impact actual results and cause them to differ from what is anticipated in the forward-looking statements contained herein is included in this Report as well as in our other filings with the Securities and Exchange Commission (“SEC”), including but not limited to those described in Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC on February 28, 2019 (the “2019 Annual Report”). Moreover, because we operate in a very competitive and rapidly changing environment, new risks are likely to emerge from time to time. Given these risks and uncertainties, shareholders are cautioned not to place undue reliance on these forward-looking statements as a prediction of future results, which speak only as of the date of this Report, unless noted otherwise. Except as required by federal securities laws and the rules and regulations of the SEC, we do not undertake to revise or update any forward-looking statements.

All references to “Notes” throughout the document refer to the footnotes to the condensed consolidated financial statements of the registrant in Part I, Item 1. Financial Statements (Unaudited).



CPA:18 – Global 3/31/2020 10-Q – 2

PART I — FINANCIAL INFORMATION

Item 1. Financial Statements.

CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except share and per share amounts)
 
March 31, 2020
 
December 31, 2019
Assets
 
 
 
Investments in real estate:
 
 
 
Real estate — Land, buildings and improvements
$
1,158,497

 
$
1,200,645

Operating real estate — Land, buildings and improvements
505,326

 
512,485

Real estate under construction
267,044

 
235,751

Net investments in direct financing leases
30,338

 
42,054

In-place lease and other intangible assets
276,196

 
284,097

Investments in real estate
2,237,401

 
2,275,032

Accumulated depreciation and amortization
(335,051
)
 
(328,312
)
Net investments in real estate
1,902,350

 
1,946,720

Cash and cash equivalents
104,939

 
144,148

Accounts receivable and other assets, net
142,255

 
143,935

Total assets (a)
$
2,149,544

 
$
2,234,803

Liabilities and Equity
 
 
 
Non-recourse secured debt, net
$
1,183,382

 
$
1,201,913

Accounts payable, accrued expenses and other liabilities
141,899

 
147,098

Due to affiliates
9,486

 
11,376

Distributions payable
22,844

 
22,745

Total liabilities (a)
1,357,611

 
1,383,132

Commitments and contingencies (Note 10)

 

 
 
 
 
Preferred stock, $0.001 par value; 50,000,000 shares authorized; none issued
—

 
—

Class A common stock, $0.001 par value; 320,000,000 shares authorized; 117,627,430 and 117,179,578 shares, respectively, issued and outstanding
117

 
117

Class C common stock, $0.001 par value; 80,000,000 shares authorized; 32,263,611 and 32,238,513 shares, respectively, issued and outstanding
32

 
32

Additional paid-in capital
1,323,827

 
1,319,584

Distributions and accumulated losses
(508,253
)
 
(470,326
)
Accumulated other comprehensive loss
(79,912
)
 
(56,535
)
Total stockholders’ equity
735,811

 
792,872

Noncontrolling interests
56,122

 
58,799

Total equity
791,933

 
851,671

Total liabilities and equity
$
2,149,544

 
$
2,234,803

__________
(a)
See Note 2 for details related to variable interest entities (“VIEs”).

See Notes to Condensed Consolidated Financial Statements.


CPA:18 – Global 3/31/2020 10-Q – 3

CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(in thousands, except share and per share amounts)
 
Three Months Ended March 31,
 
2020

2019
Revenues
 
 
 
Lease revenues — net-leased
$
22,361

 
$
30,914

Lease revenues — operating real estate
17,943

 
17,265

Other operating and interest income
2,576

 
2,115

 
42,880


50,294

Operating Expenses
 
 
 
Depreciation and amortization
14,530

 
15,372

Operating real estate expenses
6,724

 
6,466

Property expenses, excluding reimbursable tenant costs
5,084

 
4,651

Allowance for credit losses
4,865

 
—

Reimbursable tenant costs
3,128

 
4,024

General and administrative
1,897

 
1,759

 
36,228

 
32,272

Other Income and Expenses
 
 
 
Interest expense
(10,489
)
 
(12,357
)
Other gains and (losses)
(2,072
)
 
172

Equity in losses of equity method investment in real estate
(54
)
 
(648
)
Gain on sale of real estate, net
—

 
15,408

 
(12,615
)
 
2,575

(Loss) income before income taxes
(5,963
)
 
20,597

Benefit from (provision for) income taxes
394

 
(924
)
Net (Loss) Income
(5,569
)
 
19,673

Net income attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $1,916 and $1,848, respectively)
(2,611
)
 
(4,846
)
Net (Loss) Income Attributable to CPA:18 – Global
$
(8,180
)

$
14,827

Class A Common Stock
 
 
 
Net (loss) income attributable to CPA:18 – Global
$
(6,398
)
 
$
11,654

Basic and diluted weighted-average shares outstanding
117,968,262

 
115,497,094

Basic and diluted (loss) earnings per share
$
(0.05
)
 
$
0.10

Class C Common Stock
 
 
 
Net (loss) income attributable to CPA:18 – Global
$
(1,782
)
 
$
3,173

Basic and diluted weighted-average shares outstanding
32,445,640

 
31,879,027

Basic and diluted (loss) earnings per share
$
(0.05
)
 
$
0.10


See Notes to Condensed Consolidated Financial Statements.


CPA:18 – Global 3/31/2020 10-Q – 4

CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (UNAUDITED)
(in thousands)
 
Three Months Ended March 31,
 
2020
 
2019
Net (Loss) Income
$
(5,569
)
 
$
19,673

Other Comprehensive Loss
 
 
 
Foreign currency translation adjustments
(24,082
)
 
(4,242
)
Unrealized loss on derivative instruments
(1,823
)
 
(238
)
 
(25,905
)
 
(4,480
)
Comprehensive (Loss) Income
(31,474
)
 
15,193

 
 
 
 
Amounts Attributable to Noncontrolling Interests
 
 
 
Net income
(2,611
)
 
(4,846
)
Foreign currency translation adjustments
2,525

 
158

Unrealized loss on derivative instruments
3

 
—

Comprehensive income attributable to noncontrolling interests
(83
)
 
(4,688
)
Comprehensive (Loss) Income Attributable to CPA:18 – Global
$
(31,557
)
 
$
10,505

 
See Notes to Condensed Consolidated Financial Statements.



CPA:18 – Global 3/31/2020 10-Q – 5

CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (UNAUDITED)
(in thousands, except share and per share amounts)
 
CPA:18 – Global Stockholders
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional Paid-In Capital
 
Distributions
and
Accumulated
Losses
 
Accumulated
Other Comprehensive Loss
 
Total CPA:18 – Global Stockholders
 
Noncontrolling Interests
 
 
 
Common Stock
 
 
 
 
 
 
 
 
Class A
 
Class C
 
 
 
 
 
 
 
 
Shares
 
Amount
 
Shares
 
Amount
 
 
 
 
 
 
Total
Balance at January 1, 2020
117,179,578

 
$
117

 
32,238,513

 
$
32

 
$
1,319,584

 
$
(470,326
)
 
$
(56,535
)
 
$
792,872

 
$
58,799

 
$
851,671

Cumulative-effect adjustment for the adoption of ASU 2016-13, Financial Instruments — Credit Losses (Note 2)
 
 
 
 
 
 
 
 
 
 
(6,903
)
 
 
 
(6,903
)
 
 
 
(6,903
)
Shares issued
966,298

 
1

 
290,887

 
—

 
10,938

 
 
 
 
 
10,939

 

 
10,939

Shares issued to affiliate
169,045

 
—

 
 
 
 
 
1,481

 
 
 
 
 
1,481

 

 
1,481

Contributions from noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
 
 
—

 
595

 
595

Distributions to noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(3,355
)
 
(3,355
)
Distributions declared ($0.1563 and $0.1382 per share to Class A and Class C, respectively)
 
 
 
 
 
 
 
 
 
 
(22,844
)
 
 
 
(22,844
)
 
 
 
(22,844
)
Net (loss) income
 
 
 
 
 
 
 
 
 
 
(8,180
)
 
 
 
(8,180
)
 
2,611

 
(5,569
)
Other comprehensive loss:
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 

Foreign currency translation adjustments
 
 
 
 
 
 
 
 
 
 
 
 
(21,557
)
 
(21,557
)
 
(2,525
)
 
(24,082
)
Unrealized loss on derivative instruments
 
 
 
 
 
 
 
 
 
 
 
 
(1,820
)
 
(1,820
)
 
(3
)
 
(1,823
)
Repurchase of shares
(687,491
)
 
(1
)
 
(265,789
)
 
—

 
(8,176
)
 
 
 
 
 
(8,177
)
 
 
 
(8,177
)
Balance at March 31, 2020
117,627,430

 
$
117

 
32,263,611

 
$
32

 
$
1,323,827

 
$
(508,253
)
 
$
(79,912
)
 
$
735,811

 
$
56,122

 
$
791,933

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance at January 1, 2019
114,589,333

 
$
114

 
31,641,265

 
$
32

 
$
1,290,888

 
$
(411,464
)
 
$
(50,593
)
 
$
828,977

 
$
66,993

 
$
895,970

Cumulative-effect adjustment for the adoption of ASU 2016-02, Leases (Topic 842)
 
 
 
 
 
 
 
 
 
 
(1,108
)
 
 
 
(1,108
)
 
 
 
(1,108
)
Shares issued
965,197

 
1

 
297,063

 
—

 
11,018

 
 
 
 
 
11,019

 
 
 
11,019

Shares issued to affiliate
220,238

 
—

 
 
 
 
 
1,922

 
 
 
 
 
1,922

 
 
 
1,922

Contributions from noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
 
 
—

 
2,520

 
2,520

Distributions to noncontrolling interests
 
 
 
 
 
 
 
 
 
 
 
 
 
 
—

 
(8,943
)
 
(8,943
)
Distributions declared ($0.1563 and $0.1373 per share to Class A and Class C, respectively)
 
 
 
 
 
 
 
 
 
 
(22,416
)
 
 
 
(22,416
)
 
 
 
(22,416
)
Net income
 
 
 
 
 
 
 
 
 
 
14,827

 
 
 
14,827

 
4,846

 
19,673

Other comprehensive loss:
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 

Foreign currency translation adjustments
 
 
 
 
 
 
 
 
 
 
 
 
(4,084
)
 
(4,084
)
 
(158
)
 
(4,242
)
Unrealized loss on derivative instruments
 
 
 
 
 
 
 
 
 
 
 
 
(238
)
 
(238
)
 
 
 
(238
)
Repurchase of shares
(330,661
)
 
—

 
(98,187
)
 
—

 
(3,605
)
 
 
 
 
 
(3,605
)
 
 
 
(3,605
)
Balance at March 31, 2019
115,444,107

 
$
115

 
31,840,141

 
$
32

 
$
1,300,223

 
$
(420,161
)
 
$
(54,915
)
 
$
825,294

 
$
65,258

 
$
890,552


See Notes to Condensed Consolidated Financial Statements.


CPA:18 – Global 3/31/2020 10-Q – 6

CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(in thousands)
 
Three Months Ended March 31,
 
2020
 
2019
Cash Flows — Operating Activities

 
 
Net Cash Provided by Operating Activities
$
22,808

 
$
21,859

Cash Flows — Investing Activities
 
 
 
Funding for development projects
(38,086
)
 
(32,408
)
Value added taxes paid in connection with construction funding
(3,641
)
 
(2,926
)
Capital expenditures on real estate
(3,057
)
 
(750
)
Payment of deferred acquisition fees to an affiliate
(1,488
)
 
(2,252
)
Return of capital from equity investments
1,134

 
—

Capital contributions to equity investment
(345
)
 
—

Value added taxes refunded in connection with construction funding
325

 
1,006

Proceeds from sale of real estate
—

 
16,404

Net Cash Used in Investing Activities
(45,158
)
 
(20,926
)
Cash Flows — Financing Activities
 
 
 
Proceeds from mortgage financing
25,126

 
7,582

Distributions paid
(22,745
)
 
(22,264
)
Proceeds from issuance of shares
10,426

 
10,487

Repurchase of shares
(8,177
)
 
(3,605
)
Scheduled payments and prepayments of mortgage principal
(7,529
)
 
(16,423
)
Distributions to noncontrolling interests
(3,355
)
 
(7,112
)
Contributions from noncontrolling interests
595

 
2,520

Other financing activities, net
(99
)
 
(716
)
Net Cash Used in Financing Activities
(5,758
)
 
(29,531
)
Change in Cash and Cash Equivalents and Restricted Cash During the Period
 
 
 
Effect of exchange rate changes on cash and cash equivalents and restricted cash
(3,388
)
 
(441
)
Net decrease in cash and cash equivalents and restricted cash
(31,496
)
 
(29,039
)
Cash and cash equivalents and restricted cash, beginning of period
163,398

 
190,838

Cash and cash equivalents and restricted cash, end of period
$
131,902

 
$
161,799


See Notes to Condensed Consolidated Financial Statements.


CPA:18 – Global 3/31/2020 10-Q – 7

CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Note 1. Organization

Organization

Corporate Property Associates 18 – Global Incorporated (“CPA:18 – Global”), is a publicly owned, non-traded REIT, that invests primarily in a diversified portfolio of income-producing commercial real estate properties leased to companies, both domestically and internationally. In addition, our portfolio includes self-storage and student housing investments. We were formed in 2012 and are managed by W. P. Carey Inc. (“WPC”) through one of its subsidiaries (collectively our “Advisor”). As a REIT, we are not subject to U.S. federal income taxes on income and gains that we distribute to our stockholders as long as we satisfy certain requirements, principally relating to the nature of our income and the level of our distributions, among other factors. We earn revenue primarily by leasing the properties we own to single corporate tenants, predominantly on a triple-net lease basis, which requires the tenant to pay substantially all of the costs associated with operating and maintaining the property. We derive self-storage revenue from rents received from customers who rent storage space primarily under month-to-month leases for personal or business use. We earn student housing revenue primarily from leases of one year or less with individual students. Revenue is subject to fluctuation due to the timing of new lease transactions, lease terminations, lease expirations, contractual rent adjustments, tenant defaults, sales of properties, and changes in foreign currency exchange rates.

Substantially all of our assets and liabilities are held by CPA:18 Limited Partnership (the “Operating Partnership”), and as of March 31, 2020 we owned 99.97% of general and limited partnership interests in the Operating Partnership. The remaining interest in the Operating Partnership is held by a subsidiary of WPC.

As of March 31, 2020, our net lease portfolio was comprised of full or partial ownership interests in 47 properties, substantially all of which were fully-occupied and triple-net leased to 65 tenants totaling 9.6 million square feet. The remainder of our portfolio was comprised of our full or partial ownership interests in 68 self-storage properties, 12 student housing development projects and two student housing operating properties, totaling approximately 5.5 million square feet.

We operate in three reportable business segments: Net Lease, Self Storage, and Other Operating Properties. Our Net Lease segment includes our investments in net-leased properties, whether they are accounted for as operating leases or direct financing leases. Our Self Storage segment is comprised of our investments in self-storage properties. Our Other Operating Properties segment is primarily comprised of our investments in student housing operating properties and multi-family residential properties (our last multi-family residential property was sold in January 2019). In addition, we have an All Other category that includes our notes receivable investments, one of which was repaid during the second quarter of 2019. Our reportable business segments and All Other category are the same as our reporting units (Note 12).

We raised aggregate gross proceeds in our initial public offering of approximately $1.2 billion through April 2, 2015, which is the date we closed our offering. We have fully invested the proceeds from our initial public offering. In addition, from inception through March 31, 2020, $192.3 million and $55.1 million of distributions to our shareholders were reinvested in our Class A and Class C common stock, respectively, through our Distribution Reinvestment Plan (“DRIP”).



CPA:18 – Global 3/31/2020 10-Q – 8

Notes to Condensed Consolidated Financial Statements (Unaudited)


Note 2. Basis of Presentation

Basis of Presentation

Our interim condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of our condensed consolidated financial position, results of operations, and cash flows in accordance with generally accepted accounting principles in the United States (“GAAP”). The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP.
 
In the opinion of management, the unaudited financial information for the interim periods presented in this Report reflects all normal and recurring adjustments necessary for a fair statement of financial position, results of operations, and cash flows. Our interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes for the year ended December 31, 2019, which are included in the 2019 Annual Report, as certain disclosures that would substantially duplicate those contained in the audited consolidated financial statements have not been included in this Report. Operating results for interim periods are not necessarily indicative of operating results for an entire year.
 
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.

Basis of Consolidation

Our condensed consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries. The portions of equity in consolidated subsidiaries that are not attributable, directly or indirectly, to us are presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated.

When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed a VIE and, if so, whether we are the primary beneficiary and are therefore required to consolidate the entity. There have been no significant changes in our VIE policies from what was disclosed in the 2019 Annual Report.

As of both March 31, 2020 and December 31, 2019, we considered 19 entities to be VIEs, 18 of which we consolidated as we are considered the primary beneficiary. The following table presents a summary of selected financial data of the consolidated VIEs included in the condensed consolidated balance sheets (in thousands):
 
March 31, 2020
 
December 31, 2019
Real estate — Land, buildings and improvements
$
343,342

 
$
359,886

Real estate under construction
267,044

 
233,220

In-place lease intangible assets
98,588

 
101,198

Accumulated depreciation and amortization
(79,634
)
 
(78,598
)
Total assets
661,082

 
642,648

 
 
 
 
Non-recourse secured debt, net
$
287,069

 
$
276,124

Total liabilities
342,183

 
330,549


As of both March 31, 2020 and December 31, 2019, we had one unconsolidated VIE, which we account for under the equity method of accounting. We do not consolidate this entity because we are not the primary beneficiary and the nature of our involvement in the activities of the entity allows us to exercise significant influence on, but does not give us power over, decisions that significantly affect the economic performance of the entity. As of March 31, 2020 and December 31, 2019, the net carrying amount of this equity investment was $13.2 million and $14.9 million, respectively, and our maximum exposure to loss in this entity is limited to our investment. 



CPA:18 – Global 3/31/2020 10-Q – 9

Notes to Condensed Consolidated Financial Statements (Unaudited)


Foreign Currencies

We are subject to fluctuations in exchange rates between foreign currencies and the U.S. dollar (primarily the euro and the Norwegian krone and, to a lesser extent, the British pound sterling). The following table reflects the end-of-period rate of the U.S. dollar in relation to foreign currencies:
 
March 31, 2020
 
December 31, 2019
 
Percent Change
British Pound Sterling
$
1.2360

 
$
1.3204

 
(6.4
)%
Euro
1.0956

 
1.1234

 
(2.5
)%
Norwegian Krone
0.0952

 
0.1139

 
(16.4
)%

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation.

We currently present Reimbursable tenant costs on its own line item in the condensed consolidated statements of operations. Previously, this line item was included within Property expenses (which is now presented as Property expenses, excluding reimbursable tenant costs).

Revenue Recognition

Lease revenue (including straight-line lease revenue) is only recognized when deemed probable of collection. Collectibility is assessed for each tenant receivable using various criteria including credit ratings, guarantees, past collection issues, and the current economic and business environment affecting the tenant. If collectibility of the contractual rent stream is not deemed probable, revenue will only be recognized upon receipt of cash from the tenant. During the three months ended March 31, 2020, we wrote off $7.0 million in straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels.

Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the condensed consolidated statements of cash flows (in thousands):
 
March 31, 2020
 
December 31, 2019
Cash and cash equivalents
$
104,939

 
$
144,148

Restricted cash (a)
26,963

 
19,250

Total cash and cash equivalents and restricted cash
$
131,902

 
$
163,398

__________
(a)
Restricted cash is included within Accounts receivable and other assets, net on our condensed consolidated balance sheets.

Deferred Income Taxes

Our deferred tax liabilities were $42.9 million and $48.6 million at March 31, 2020 and December 31, 2019, respectively, and are included in Accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements. Our deferred tax assets, net of valuation allowances, were $1.5 million and $1.4 million at March 31, 2020 and December 31, 2019, respectively, and are included in Accounts receivable and other assets, net in the condensed consolidated financial statements.

Recent Accounting Pronouncements

Pronouncements Adopted through March 31, 2020

In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13, Financial Instruments — Credit Losses. ASU 2016-13 replaces the “incurred loss” model with an “expected loss” model, resulting in the earlier recognition of credit losses even if the risk of loss is remote. This standard applies to financial assets measured at amortized cost and certain other instruments, including loans receivable and net investments in direct financing leases. This standard does not apply to receivables arising from operating leases, which are within the scope of Topic 842.


CPA:18 – Global 3/31/2020 10-Q – 10

Notes to Condensed Consolidated Financial Statements (Unaudited)



We adopted ASU 2016-13 on January 1, 2020 using the modified retrospective method, which requires applying changes in reserves through a cumulative-effect adjustment to retained earnings. Upon adoption, we recorded a net decrease in retained earnings of $6.9 million, which is reflected within our consolidated statement of equity.

The allowance for credit losses, which is recorded as a reduction to Net investments in direct financing leases on our condensed consolidated balance sheets, was measured using a probability of default method based on the lessees’ respective credit ratings and the expected value of the underlying collateral upon its repossession. Included in our model are factors that incorporate forward-looking information.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 contains practical expedients for reference rate reform-related activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future London Interbank Offered Rate indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We will continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.



CPA:18 – Global 3/31/2020 10-Q – 11

Notes to Condensed Consolidated Financial Statements (Unaudited)


Note 3. Agreements and Transactions with Related Parties

Transactions with Our Advisor

We have an advisory agreement with our Advisor whereby our Advisor performs certain services for us under a fee arrangement, including the identification, evaluation, negotiation, purchase, day-to-day management, and disposition of real estate and related assets and mortgage loans. We also reimburse our Advisor for general and administrative duties performed on our behalf. The advisory agreement has a term of one year and may be renewed for successive one-year periods. We may terminate the advisory agreement upon 60 days written notice without cause or penalty.

Jointly Owned Investments and Other Transactions with our Affiliates

As of March 31, 2020, we owned interests ranging from 50% to 100% in jointly owned investments, with the remaining interests held by affiliates or by third parties. Since no other parties hold any rights that supersede our control, we consolidate all of these joint ventures, with the exception of our sole equity investment (Note 4), which we account for under the equity method of accounting.

The following tables present a summary of fees we paid, expenses we reimbursed, and distributions we made to our Advisor and other affiliates in accordance with the terms of the relevant agreements (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Amounts Included in the Condensed Consolidated Statements of Operations
 
 
 
Asset management fees
$
3,002

 
$
2,868

Available Cash Distributions
1,916

 
1,848

Personnel and overhead reimbursements
725

 
798

Interest expense on deferred acquisition fees and external joint venture loans
123

 
127

Disposition fees
—

 
1,117

 
$
5,766

 
$
6,758

 
 
 
 
Acquisition Fees Capitalized
 
 
 
 
 
 
 
Current acquisition fees
$
110

 
$
695

Deferred acquisition fees
88

 
555

Capitalized personnel and overhead reimbursements
70

 
89

 
$
268

 
$
1,339


The following table presents a summary of amounts included in Due to affiliates in the condensed consolidated financial statements (in thousands):
 
March 31, 2020
 
December 31, 2019
Due to Affiliates
 
 
 
External joint venture loans, accounts payable, and other (a)
$
5,360

 
$
5,951

Deferred acquisition fees, including accrued interest
3,007

 
4,456

Asset management fees payable
1,001

 
961

Current acquisition fees
118

 
8

 
$
9,486

 
$
11,376

___________
(a)
Includes loans from our joint venture partners to the jointly owned investments that we consolidate. As of March 31, 2020 and December 31, 2019, loans due to our joint venture partners, including accrued interest, were $4.5 million and $4.6 million, respectively.



CPA:18 – Global 3/31/2020 10-Q – 12

Notes to Condensed Consolidated Financial Statements (Unaudited)


Asset Management Fees

Pursuant to the advisory agreement, our Advisor is entitled to an annual asset management fee ranging from 0.5% to 1.5%, depending on the type of investment and based on the average market value or average equity value, as applicable, of our investments. Asset management fees are payable in cash and/or shares of our Class A common stock. For any portion of fees our Advisor receives in shares, the number of shares issued is determined by dividing the dollar amount of fees by our most recently published estimated net asset value per share (“NAV”) per Class A share, which was $8.94 as of December 31, 2019. Effective January 1, 2019, our Advisor elected to receive 50% of the asset management fees in shares of our Class A common stock and 50% in cash. Effective April 1, 2020, our Advisor elected to receive all of the asset management fees in shares of our Class A common stock. As of March 31, 2020, our Advisor owned 5,922,928 shares, or 4.0%, of our outstanding Class A common stock. Asset management fees are included in Property expenses in the condensed consolidated financial statements.

Acquisition and Disposition Fees

Our Advisor receives acquisition fees, a portion of which is payable upon acquisition, while the remaining portion is subordinated to a preferred return of a non-compounded cumulative distribution of 5.0% per annum (based initially on our invested capital). The initial acquisition fee and subordinated acquisition fee are 2.5% and 2.0%, respectively, of the aggregate total cost of our portion of each investment for all investments, other than those in readily marketable real estate securities purchased in the secondary market, for which our Advisor will not receive any acquisition fees. Deferred acquisition fees are scheduled to be paid in three equal annual installments following the quarter in which a property was purchased and are subject to the preferred return described above. The preferred return was achieved as of the periods ended March 31, 2020 and December 31, 2019. The preferred return will continue to be assessed on a cumulative basis for the remainder of the fiscal year. Unpaid installments of deferred acquisition fees are included in Due to affiliates in the condensed consolidated financial statements and bear interest at an annual rate of 2.0%. The cumulative total acquisition costs, including acquisition fees paid to the advisor, may not exceed 6.0% of the aggregate contract purchase price of all investments, which is measured at the end of each year.

In addition, prior to January 1, 2020, our Advisor was entitled to receive a disposition fee equal to the lesser of (i) 50.0% of the competitive real estate commission (as defined in the advisory agreement) or (ii) 3.0% of the contract sales price of the investment being sold. These fees were paid at the discretion of our board of directors. Effective January 1, 2020, the Advisor has waived its right to disposition fees with respect to sales and dispositions of single investments and portfolios of investments. The Advisor may still be entitled to disposition fees in connection with a transaction or series of transactions related to a merger, liquidation, or other event, at the discretion of our board of directors. 

Personnel and Overhead Reimbursements

Under the terms of the advisory agreement, our Advisor allocates a portion of its personnel and overhead expenses to us and the other entities that are managed by WPC and its affiliates, which as of March 31, 2020 included Carey Watermark Investors Incorporated, Carey Watermark Investors 2 Incorporated, and Carey European Student Housing Fund I L.P. (collectively with us, the “Managed Programs”).

We reimburse our Advisor for the allocated costs of personnel and overhead in managing our day-to-day operations, including accounting services, stockholder services, corporate management, and property management and operations. In addition, we reimburse our Advisor for various expenses it incurs in the course of providing services to us. We reimburse certain third-party expenses paid by our Advisor on our behalf, including property-specific costs, professional fees, office expenses, and business development expenses. We do not reimburse our Advisor for salaries and benefits paid to our named executive officers or for the cost of personnel that provide services for transactions for where our Advisor receives a fee (such as for acquisitions and dispositions). Under the advisory agreement, the amount of applicable personnel costs allocated to us is capped at 1.0% of our pro rata total revenues for each of 2020 and 2019. Our Advisor allocates overhead expenses to us based upon the percentage that our full-time employee equivalents comprised of the Advisor’s total full-time employee equivalents. Costs related to our Advisor’s legal transactions group are based on a schedule of expenses relating to services performed for different types of transactions, such as financing, lease amendments, and dispositions, among other categories, and includes 0.25% of the total investment cost of an acquisition. In general, personnel and overhead reimbursements are included in General and administrative expenses in the condensed consolidated financial statements. However, we capitalize certain costs related to our Advisor’s legal transactions group if the costs relate to an asset acquisition or other transactions.



CPA:18 – Global 3/31/2020 10-Q – 13

Notes to Condensed Consolidated Financial Statements (Unaudited)


Excess Operating Expenses
 
Our Advisor is obligated to reimburse us for the amount by which our operating expenses exceeds the “2%/25% guidelines” (the greater of 2% of average invested assets or 25% of net income) as defined in the advisory agreement for any 12-month period, subject to certain conditions. For the most recent trailing four quarters, our operating expenses were below this threshold.

Available Cash Distributions

WPC’s interest in the Operating Partnership entitles it to receive distributions of up to 10.0% of the available cash generated by the Operating Partnership (“the Available Cash Distribution”), which is defined as cash generated from operations, excluding capital proceeds, as reduced by operating expenses and debt service, excluding prepayments and balloon payments. Available Cash Distributions are included in Net income attributable to noncontrolling interests in the condensed consolidated financial statements.

Note 4. Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate

Real Estate — Land, Buildings and Improvements

Real estate, which consists of land and buildings leased to others, which are subject to operating leases, is summarized as follows (in thousands):
 
March 31, 2020
 
December 31, 2019
Land
$
185,556

 
$
196,693

Buildings and improvements
972,941

 
1,003,952

Less: Accumulated depreciation
(138,269
)
 
(135,922
)
 
$
1,020,228

 
$
1,064,723


The carrying value of our Real Estate — Land, buildings and improvements decreased by $41.9 million from December 31, 2019 to March 31, 2020, reflecting the impact of exchange rate fluctuations during the same period (Note 2).

Depreciation expense, including the effect of foreign currency translation, on our real estate was $7.1 million and $7.5 million for the three months ended March 31, 2020 and 2019, respectively.

Leases

Operating Lease Income

Lease income related to operating leases recognized and included within Lease revenues — net-leased and Lease revenues — operating real estate in the condensed consolidated statements of operations are as follows (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Lease revenues — net-leased
 
 
 
Lease income — fixed (a)
$
17,622

 
$
25,387

Lease income — variable (b)
3,785

 
4,561

Total operating lease income (c)
$
21,407

 
$
29,948

 
 
 
 
Lease revenues — operating real estate
 
 
 
Lease income — fixed
$
17,302

 
$
16,641

Lease income — variable (d)
641

 
624

Total operating lease income
$
17,943

 
$
17,265

___________


CPA:18 – Global 3/31/2020 10-Q – 14

Notes to Condensed Consolidated Financial Statements (Unaudited)


(a)
Amount for the three months ended March 31, 2020 includes a $7.0 million write-off of straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels (Note 2).
(b)
Includes (i) rent increases based on changes in the Consumer Price Index (“CPI”) and other comparable indices and (ii) reimbursements for property taxes, insurance, and common area maintenance services.
(c)
Excludes $1.0 million of interest income for both the three months ended March 31, 2020 and 2019, from direct financing leases that is included in Lease revenues — net-leased in the condensed consolidated statements of operations.
(d)
Primarily comprised of late fees and administrative fees revenues.

Operating Real Estate — Land, Buildings and Improvements
 
Operating real estate, which consists of our self-storage and student housing properties, is summarized as follows (in thousands):
 
March 31, 2020
 
December 31, 2019
Land
$
77,704

 
$
78,240

Buildings and improvements
427,622

 
434,245

Less: Accumulated depreciation
(60,743
)
 
(57,237
)
 
$
444,583

 
$
455,248


The carrying value of our Operating real estate — land, buildings and improvements decreased by $7.2 million from December 31, 2019 to March 31, 2020, reflecting the impact of exchange rate fluctuations during the same period (Note 2).

Depreciation expense, including the effect of foreign currency translation, on our operating real estate was $3.8 million for both the three months ended March 31, 2020 and 2019.

Real Estate Under Construction

The following table provides the activity of our Real estate under construction (in thousands):
 
Three Months Ended March 31, 2020
Beginning balance
$
235,751

Capitalized funds
38,569

Foreign currency translation adjustments
(5,217
)
Placed into service
(4,062
)
Capitalized interest
2,003

Ending balance
$
267,044


Capitalized Funds

During the three months ended March 31, 2020, total capitalized funds primarily related to construction draws for our student housing development projects, and includes accrued costs of $2.5 million, which is a non-cash investing activity.

Capitalized Interest

Capitalized interest includes interest incurred during construction as well as amortization of the mortgage discount and deferred financing costs, which totaled $2.0 million during the three months ended March 31, 2020, which is a non-cash investing activity.

Ending Balance

As of March 31, 2020, we had 12 open development projects, with aggregate unfunded commitments of approximately $237.0 million, excluding capitalized interest, accrued costs, and capitalized acquisition fees for our Advisor.



CPA:18 – Global 3/31/2020 10-Q – 15

Notes to Condensed Consolidated Financial Statements (Unaudited)


Ghana Settlement Update

During the three months ended March 31, 2020, the collectibility of the value added tax (“VAT”) receivable to be refunded by the Ghanaian government was no longer deemed probable. As such, we recorded a $2.8 million loss to write-off the VAT receivable during the three months ended March 31, 2020, which is included within Other gains and (losses) on our condensed consolidated statements of operations.

Equity Investment in Real Estate

We classify distributions received from equity method investments using the cumulative earnings approach. Distributions received are considered returns on the investment and classified as cash inflows from operating activities. If, however, the investor’s cumulative distributions received, less distributions received in prior periods determined to be returns of investment, exceeds cumulative equity in earnings recognized, the excess is considered a return of investment and is classified as cash inflows from investing activities.

We have an interest in an unconsolidated investment in our Self Storage segment that relates to a joint venture for the development of three self-storage facilities in Canada. This entity was jointly owned with a third party, which is also the general partner of the joint venture. Our ownership and economic interest in the joint venture is 100%. We continue to not consolidate this entity because we are not the primary beneficiary due to shared decision making with the general partner and the nature of our involvement in the activities, which allows us to exercise significant influence, but does not give us power over decisions that significantly affect the economic performance of the entity.

As of March 31, 2020 and December 31, 2019, our total equity investment balance for these self-storage properties was $13.2 million and $14.9 million, respectively, which is included in Accounts receivable and other assets, net in the condensed consolidated financial statements. As of March 31, 2020 and December 31, 2019, the joint venture had total third-party recourse debt of $29.3 million and $32.2 million, respectively.

Note 5. Finance Receivables

Assets representing rights to receive money on demand or at fixed or determinable dates are referred to as finance receivables. Our finance receivables portfolio consists of our notes receivable (which are included in Accounts receivable and other assets, net in the condensed consolidated financial statements) and our Net investments in direct financing leases (net of allowance for credit losses). Operating leases are not included in finance receivables.

Notes Receivable

As of March 31, 2020, our notes receivable consisted of a $28.0 million mezzanine tranche of 10-year commercial mortgage-backed securities on the Cipriani banquet halls in New York, New York with a maturity date of July 2024. The mezzanine tranche is subordinated to a $60.0 million senior loan on the properties. Interest-only payments at a rate of 10% per annum are due through its maturity date. As of both March 31, 2020 and December 31, 2019, the balance for this note receivable remained $28.0 million.

Interest income from our notes receivable was $0.7 million and $1.8 million for three months ended March 31, 2020 and 2019, respectively, and is included in Other operating and interest income in our condensed consolidated statements of operations.



CPA:18 – Global 3/31/2020 10-Q – 16

Notes to Condensed Consolidated Financial Statements (Unaudited)


Net Investments in Direct Financing Leases

Net investments in our direct financing lease investments is summarized as follows (in thousands):
 
March 31, 2020
 
December 31, 2019
Lease payments receivable
$
54,419

 
$
55,278

Unguaranteed residual value
39,401

 
39,401

 
93,820

 
94,679

Less: unearned income
(51,714
)
 
(52,625
)
Less: allowance for credit losses (a)
(11,768
)
 
—

 
$
30,338

 
$
42,054

___________
(a)
Upon our adoption of ASU 2016-13 on January 1, 2020, we applied changes in loss reserves through a cumulative-effect adjustment to retained earnings totaling $6.9 million (Note 2). In addition, during the three months ended March 31, 2020, due to changes in expected economic conditions, we recorded an allowance for credit losses of $4.9 million, which was included in Allowance for credit losses in our condensed consolidated statements of operations.

Interest income from direct financing leases was $1.0 million for both the three months ended March 31, 2020 and 2019, and is included in Lease revenues — net-leased in our condensed consolidated statements of operations.

Credit Quality of Finance Receivables

We generally invest in facilities that we believe are critical to a tenant’s business and therefore have a lower risk of tenant default. As of both March 31, 2020 and December 31, 2019, we had no significant finance receivable balances that were past due, but as noted above, we established an allowance for credit losses during the first quarter of 2020. Additionally, there were no modifications of finance receivables during the three months ended March 31, 2020.

We evaluate the credit quality of our finance receivables utilizing an internal five-point credit rating scale, with one representing the highest credit quality and five representing the lowest. A credit quality of one through three indicates a range of investment grade to stable. A credit quality of four through five indicates inclusion on the watch list to risk of default. The credit quality evaluation of our finance receivables is updated quarterly.

A summary of our finance receivables by internal credit quality rating is as follows (dollars in thousands):
 
 
Number of Tenants/Obligors at
 
Carrying Value at
Internal Credit Quality Indicator
 
March 31, 2020
 
December 31, 2019
 
March 31, 2020
 
December 31, 2019
1 – 3
 
4
 
4
 
$
44,964

 
$
45,457

4
 
1
 
1
 
13,374

 
24,597

5
 
—
 
—
 
—

 
—

 
 
0
 
 
 
$
58,338

 
$
70,054


Note 6. Intangible Assets and Liabilities

In-place lease and above-market rent intangibles are included in In-place lease and other intangible assets in the condensed consolidated financial statements. Below-market rent intangibles are included in Accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements.

Goodwill is included in our Net Lease segment and included in Accounts receivable and other assets, net in the condensed consolidated financial statements. As a result of foreign currency translation adjustments, goodwill decreased from $26.0 million as of December 31, 2019 to $23.2 million as of March 31, 2020.



CPA:18 – Global 3/31/2020 10-Q – 17

Notes to Condensed Consolidated Financial Statements (Unaudited)


Intangible assets and liabilities are summarized as follows (in thousands):
 
 
 
March 31, 2020
 
December 31, 2019
 
Amortization Period (Years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Finite-Lived Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
In-place lease
6 – 23
 
$
232,546

 
$
(131,852
)
 
$
100,694

 
$
238,771

 
$
(131,012
)
 
$
107,759

Above-market rent
7 – 30
 
9,929

 
(4,187
)
 
5,742

 
10,257

 
(4,141
)
 
6,116

 
 
 
242,475

 
(136,039
)
 
106,436

 
249,028

 
(135,153
)
 
113,875

Indefinite-Lived Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill
 
 
23,179

 
—

 
23,179

 
26,024

 
—

 
26,024

Total intangible assets
 
 
$
265,654

 
$
(136,039
)
 
$
129,615

 
$
275,052

 
$
(135,153
)
 
$
139,899

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Finite-Lived Intangible Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
Below-market rent
6 – 30
 
$
(14,930
)
 
$
6,875

 
$
(8,055
)
 
$
(14,974
)
 
$
6,627

 
$
(8,347
)
Total intangible liabilities
 
 
$
(14,930
)
 
$
6,875

 
$
(8,055
)
 
$
(14,974
)
 
$
6,627

 
$
(8,347
)

Net amortization of intangibles, including the effect of foreign currency translation, was $3.5 million and $3.9 million for the three months ended March 31, 2020 and 2019, respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Rental income; and amortization of in-place lease intangibles is included in Depreciation and amortization expense.

Note 7. Fair Value Measurements
 
The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities, and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate caps, interest rate swaps, foreign currency forward contracts and foreign currency collars; and Level 3, for securities that do not fall into Level 1 or Level 2 and for which little or no market data exists, therefore requiring us to develop our own assumptions.

Items Measured at Fair Value on a Recurring Basis

The methods and assumptions described below were used to estimate the fair value of each class of financial instrument. For significant Level 3 items, we have also provided the unobservable inputs.

Derivative Assets and Liabilities — Our derivative assets and liabilities, which are included in Accounts receivable and other assets, net and Accounts payable, accrued expenses and other liabilities, respectively, in the condensed consolidated financial statements, are comprised of foreign currency forward contracts, interest rate swaps, interest rate caps, and foreign currency collars (Note 8).

The valuation of our derivative instruments is determined using a discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves, spot and forward rates, and implied volatilities. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative instruments for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. These derivative instruments were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market.



CPA:18 – Global 3/31/2020 10-Q – 18

Notes to Condensed Consolidated Financial Statements (Unaudited)


We did not have any transfers into or out of Level 1, Level 2, and Level 3 measurements during the three months ended March 31, 2020 and 2019. Gains and losses (realized and unrealized) recognized on items measured at fair value on a recurring basis included in earnings are reported within Other gains and (losses) on our condensed consolidated financial statements.
 
Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands):
 
 
 
March 31, 2020
 
December 31, 2019
 
Level
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Non-recourse secured debt, net (a) (b)
3
 
$
1,183,382

 
$
1,196,712

 
$
1,201,913

 
$
1,239,004

Notes receivable (c)
3
 
28,000

 
30,300

 
28,000

 
30,300

___________
(a)
As of March 31, 2020 and December 31, 2019, the carrying value of Non-recourse secured debt, net includes unamortized deferred financing costs of $6.2 million and $5.8 million, respectively, and unamortized premium, net of $1.3 million and $2.1 million, respectively (Note 9).
(b)
We determined the estimated fair value of our Non-recourse secured debt, net using a discounted cash flow model that estimates the present value of the future loan payments by discounting such payments at current estimated market interest rates. The estimated market interest rates take into account interest rate risk and the value of the underlying collateral, which includes quality of the collateral, the credit quality of the tenant/obligor, and the time until maturity.
(c)
We determined the estimated fair value of our Notes receivable using a discounted cash flow model with rates that take into account the credit of the tenant/obligor, order of payment tranches, and interest rate risk. We also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant/obligor, the time until maturity, and the current market interest rate.

We estimated that our other financial assets and liabilities (excluding net investments in direct financing leases) had fair values that approximated their carrying values as of both March 31, 2020 and December 31, 2019.

Note 8. Risk Management and Use of Derivative Financial Instruments
 
Risk Management
 
In the normal course of our ongoing business operations, we encounter economic risk. There are four main components of economic risk that impact us: interest rate risk, credit risk, market risk, and foreign currency risk. We are primarily subject to interest rate risk on our interest-bearing liabilities. Credit risk is the risk of default on our operations and our tenants’ inability or unwillingness to make contractually required payments. Market risk includes changes in the value of our properties and related loans, as well as changes in the value of our other investments due to changes in interest rates or other market factors. We own international investments, primarily in Europe, and are subject to risks associated with fluctuating foreign currency exchange rates.
 
Derivative Financial Instruments
 
There have been no significant changes in our derivative financial instrument policies from what was disclosed in the 2019 Annual Report. As of both March 31, 2020 and December 31, 2019, no cash collateral had been posted or received for any of our derivative positions.



CPA:18 – Global 3/31/2020 10-Q – 19

Notes to Condensed Consolidated Financial Statements (Unaudited)


The following table sets forth certain information regarding our derivative instruments (in thousands):
Derivatives Designated as Hedging Instruments
 
Balance Sheet Location
 
Derivative Assets Fair Value at
 
Derivative Liabilities Fair Value at
 
 
March 31, 2020
 
December 31, 2019
 
March 31, 2020
 
December 31, 2019
Foreign currency collars
 
Accounts receivable and other assets, net
 
$
2,518

 
$
1,444

 
$
—

 
$
—

Foreign currency forward contracts
 
Accounts receivable and other assets, net
 
654

 
861

 
—

 
—

Interest rate caps
 
Accounts receivable and other assets, net
 
37

 
116

 
—

 
—

Interest rate swaps
 
Accounts receivable and other assets, net
 
—

 
53

 
—

 
—

Interest rate swaps
 
Accounts payable, accrued expenses and other liabilities
 
—

 
—

 
(4,555
)
 
(1,991
)
 
 
 
 
3,209

 
2,474

 
(4,555
)
 
(1,991
)
Derivatives Not Designated as Hedging Instruments
 
 
 
 
 
 
 
 
 
 
Interest rate swap
 
Accounts payable, accrued expenses and other liabilities
 
—

 
—

 
(37
)
 
(48
)
 
 
 
 
—

 
—

 
(37
)
 
(48
)
Total derivatives
 
 
 
$
3,209

 
$
2,474

 
$
(4,592
)
 
$
(2,039
)

The following tables present the impact of our derivative instruments in the condensed consolidated financial statements (in thousands):
 
 
Amount of Loss Recognized on Derivatives in Other Comprehensive Loss
 
 
Three Months Ended March 31,
Derivatives in Cash Flow Hedging Relationships 
 
2020
 
2019
Interest rate swaps
 
$
(2,617
)
 
$
(887
)
Foreign currency collars
 
1,140

 
805

Foreign currency forward contracts
 
(207
)
 
(157
)
Interest rate caps
 
(139
)
 
1

Derivatives in Net Investment Hedging Relationship (a)
 
 
 
 
Foreign currency collars
 
149

 
1

Total
 
$
(1,674
)
 
$
(237
)
___________
(a)
The changes in fair value and the settlement of these contracts are reported in the foreign currency translation adjustment section of Other comprehensive loss.
 
 
 
 
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income
Derivatives in Cash Flow Hedging Relationships 
 
Location of Gain (Loss) Recognized in Income
 
Three Months Ended March 31,
 
 
2020
 
2019
Foreign currency forward contracts
 
Other gains and (losses)
 
$
278

 
$
346

Interest rate swaps
 
Interest expense
 
(179
)
 
27

Foreign currency collars
 
Other gains and (losses)
 
119

 
11

Interest rate caps
 
Interest expense
 
(17
)
 
(3
)
Total
 
 
 
$
201

 
$
381




CPA:18 – Global 3/31/2020 10-Q – 20

Notes to Condensed Consolidated Financial Statements (Unaudited)


Amounts reported in Other comprehensive loss related to our interest derivative contracts will be reclassified to Interest expense as interest is incurred on our variable-rate debt. Amounts reported in Other comprehensive loss related to foreign currency derivative contracts will be reclassified to Other gains and (losses) when the hedged foreign currency contracts are settled. As of March 31, 2020, we estimated that an additional $1.9 million and $1.6 million will be reclassified as Interest expense and Other gains and (losses), respectively, during the next 12 months.

The following table presents the impact of our derivative instruments in the condensed consolidated financial statements (in thousands):
 
 
 
 
Amount of Gain on Derivatives Recognized in Income
Derivatives Not in Cash Flow Hedging Relationships 
 
Location of Gain (Loss) Recognized in Income
 
Three Months Ended March 31,
 
 
2020
 
2019
Foreign currency collars
 
Other gains and (losses)
 
$
81

 
$
118

Interest rate swap
 
Interest expense
 
8

 
—

Foreign currency forward contracts
 
Other gains and (losses)
 
7

 
—

Derivatives in Cash Flow Hedging Relationships
 
 
 
 
 
 
Interest rate swaps
 
Interest expense
 
179

 
(1
)
Foreign currency collars
 
Other gains and (losses)
 
—

 
7

Total
 
 
 
$
275

 
$
124


Interest Rate Swaps and Caps

We are exposed to the impact of interest rate changes primarily through our borrowing activities. To limit this exposure, we attempt to obtain mortgage financing on a long-term, fixed-rate basis. However, from time to time, we or our joint investment partners have obtained, and may in the future obtain, variable-rate non-recourse secured debt and, as a result, we have entered into, and may continue to enter into interest rate swap agreements or interest rate cap agreements with counterparties. Interest rate swaps, which effectively convert the variable-rate debt service obligations of a loan to a fixed rate, are agreements in which one party exchanges a stream of interest payments for a counterparty’s stream of cash flow over a specific period. The notional, or face, amount on which the swaps are based is not exchanged. Interest rate caps limit the effective borrowing rate of variable-rate debt obligations while allowing participants to share in downward shifts in interest rates. Our objective in using these derivatives is to limit our exposure to interest rate movements.
 
The interest rate swaps and caps that our consolidated subsidiaries had outstanding as of March 31, 2020 are summarized as follows (currency in thousands):
Interest Rate Derivatives
 
Number of Instruments
 
Notional
Amount
 
Fair Value at
March 31, 2020 (a)
Interest rate swaps
 
9
 
92,008

USD
 
$
(4,555
)
Interest rate cap
 
1
 
12,975

EUR
 
20

Interest rate caps
 
2
 
59,000

GBP
 
17

Interest rate cap
 
1
 
5,700

USD
 
—

Derivatives Not Designated as Hedging Instruments
 
 
 
 
 
 
 
Interest rate swap (b)
 
1
 
9,183

EUR
 
(37
)
 
 
 
 
 
 
 
$
(4,555
)
___________
(a)
Fair value amount is based on the exchange rate of the respective currencies as of March 31, 2020, as applicable.
(b)
This interest rate swap does not qualify for hedge accounting; however, it does protect against fluctuations in interest rates related to the underlying variable-rate debt.



CPA:18 – Global 3/31/2020 10-Q – 21

Notes to Condensed Consolidated Financial Statements (Unaudited)


Foreign Currency Contracts
 
We are exposed to foreign currency exchange rate movements, primarily in the euro and, to a lesser extent, the Norwegian krone. We manage foreign currency exchange rate movements by generally placing our debt service obligation on an investment in the same currency as the tenant’s rental obligation to us. This reduces our overall exposure to the net cash flow from that investment. However, we are subject to foreign currency exchange rate movements to the extent that there is a difference in the timing and amount of the rental obligation and the debt service. Realized and unrealized gains and losses recognized in earnings related to foreign currency transactions are included in Other gains and (losses) in the condensed consolidated financial statements.

In order to hedge certain of our foreign currency cash flow exposures, we enter into foreign currency forward contracts and collars. A foreign currency forward contract is a commitment to deliver a certain amount of currency at a certain price on a specific date in the future. By entering into forward contracts and holding them to maturity, we are locked into a future currency exchange rate for the term of the contract. A foreign currency collar guarantees that the exchange rate of the currency will not fluctuate beyond the range of the options’ strike prices. Our foreign currency forward contracts and foreign currency collars have maturities of 72 months or less.

The following table presents the foreign currency derivative contracts we had outstanding and their designations as of March 31, 2020 (currency in thousands):
Foreign Currency Derivatives
 
Number of Instruments
 
Notional
Amount
 
Fair Value at
March 31, 2020
Designated as Cash Flow Hedging Instruments
 
 
 
 
 
 
 
Foreign currency collars
 
20
 
17,152

EUR
 
$
1,665

Foreign currency collars
 
16
 
30,660

NOK
 
801

Foreign currency forward contracts
 
5
 
2,006

EUR
 
654

Designated as Net Investment Hedging Instruments
 
 
 
 
 
 
 
Foreign currency collar
 
1
 
2,500

NOK
 
52

 
 
 
 
 
 
 
$
3,172


Credit Risk-Related Contingent Features

We measure our credit exposure on a counterparty basis as the net positive aggregate estimated fair value of our derivatives, net of any collateral received. No collateral was received as of March 31, 2020. At March 31, 2020, our total credit exposure was $2.4 million and the maximum exposure to any single counterparty was $1.2 million.

Some of the agreements we have with our derivative counterparties contain cross-default provisions that could trigger a declaration of default on our derivative obligations if we default, or are capable of being declared in default, on certain of our indebtedness. As of March 31, 2020, we had not been declared in default on any of our derivative obligations. The estimated fair value of our derivatives in a net liability position was $4.7 million and $2.1 million as of March 31, 2020 and December 31, 2019, respectively, which included accrued interest and any nonperformance risk adjustments. If we had breached any of these provisions as of March 31, 2020 or December 31, 2019, we could have been required to settle our obligations under these agreements at their aggregate termination value of $5.0 million and $2.2 million, respectively.

Note 9. Non-Recourse Secured Debt, Net

Non-recourse secured debt, net is collateralized by the assignment of real estate properties. As of March 31, 2020, the weighted-average interest rates for our fixed-rate and variable-rate non-recourse secured debt were 4.0% and 3.7%, respectively, with maturity dates ranging from 2020 to 2039.



CPA:18 – Global 3/31/2020 10-Q – 22

Notes to Condensed Consolidated Financial Statements (Unaudited)


Financing Activity During 2020

On March 13, 2020, we obtained a construction loan of $22.5 million (amount based on the exchange rate of the euro at the date of the loan) for a student housing development project in Barcelona, Spain. The loan is comprised of four tranches with a weighted average variable interest rate of 2.1% as of March 31, 2020. Interest only payments are due on outstanding draws through its scheduled maturity date of December 2023. A total of $16.8 million was drawn on the loan as of March 31, 2020.

Scheduled Debt Principal Payments
 
Scheduled debt principal payments during the remainder of 2020, each of the next four calendar years following December 31, 2020, and thereafter are as follows (in thousands):
Years Ending December 31,
 
Total
2020 (remainder)
 
$
59,686

2021
 
151,979

2022
 
189,208

2023
 
203,916

2024
 
198,335

Thereafter through 2039
 
385,187

Total principal payments
 
1,188,311

Unamortized deferred financing costs
 
(6,244
)
Unamortized premium, net
 
1,315

Total
 
$
1,183,382


Certain amounts in the table above are based on the applicable foreign currency exchange rate at March 31, 2020.

The carrying value of our Non-recourse secured debt, net decreased by $35.7 million in the aggregate from December 31, 2019 to March 31, 2020, reflecting the impact of exchange rate fluctuations during the same period (Note 2).

Covenants

Our non-recourse mortgage loan agreements include customary financial maintenance covenants that require us to maintain certain ratios and benchmarks at the end of each quarter. We were in compliance with all of these covenants at March 31, 2020.

Note 10. Commitments and Contingencies

As of March 31, 2020, we were not involved in any material litigation. Various claims and lawsuits arising in the normal course of business are pending against us. The results of these proceedings are not expected to have a material adverse effect on our condensed consolidated financial statements of operations or results of operations.

See Note 4 for unfunded construction commitments.



CPA:18 – Global 3/31/2020 10-Q – 23

Notes to Condensed Consolidated Financial Statements (Unaudited)


Note 11. (Loss) Earnings Per Share and Equity

Basic and Diluted (Loss) Earnings Per Share

The following table presents (loss) earnings per share (in thousands, except share and per share amounts):
 
Three Months Ended March 31,
 
2020
 
2019
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Loss
 
Basic and Diluted Loss Per Share 
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Income
 
Basic and Diluted Earnings Per Share 
Class A common stock
117,968,262

 
$
(6,398
)
 
$
(0.05
)
 
115,497,094

 
$
11,654

 
$
0.10

Class C common stock
32,445,640

 
(1,782
)
 
(0.05
)
 
31,879,027

 
3,173

 
0.10

Net (loss) income attributable to CPA:18 – Global
 
 
$
(8,180
)
 
 
 
 
 
$
14,827

 
 

The allocation of Net (loss) income attributable to CPA:18 – Global is calculated based on the basic and diluted weighted-average shares outstanding for Class A and Class C common stock for each respective period. The Class C common stock allocation includes interest expense related to the accretion of interest on the annual distribution and shareholder servicing fee liability of less than $0.1 million for both the three months ended March 31, 2020 and March 31, 2019, respectively (Note 3).

Distributions

For the three months ended March 31, 2020, our board of directors declared quarterly distributions of $0.1563 per share for our Class A common stock and $0.1382 per share for our Class C common stock, which were paid on April 15, 2020 to stockholders of record on March 31, 2020, in the amount of $22.8 million.

Reclassifications Out of Accumulated Other Comprehensive Loss

The following tables present a reconciliation of changes in Accumulated other comprehensive loss by component for the periods presented (in thousands):
 
Three Months Ended March 31, 2020
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
138

 
$
(56,673
)
 
$
(56,535
)
Other comprehensive loss before reclassifications
(1,622
)
 
(24,082
)
 
(25,704
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(397
)
 
—

 
(397
)
Interest expense
196

 
—

 
196

Net current-period other comprehensive loss
(1,823
)
 
(24,082
)
 
(25,905
)
Net current-period other comprehensive loss attributable to noncontrolling interests
—

 
2,528

 
2,528

Ending balance
$
(1,685
)
 
$
(78,227
)
 
$
(79,912
)



CPA:18 – Global 3/31/2020 10-Q – 24

Notes to Condensed Consolidated Financial Statements (Unaudited)


 
Three Months Ended March 31, 2019
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
2,215

 
$
(52,808
)
 
$
(50,593
)
Other comprehensive loss before reclassifications
143

 
(4,242
)
 
(4,099
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(357
)
 
—

 
(357
)
Interest expense
(24
)
 
—

 
(24
)
Net current-period other comprehensive loss
(238
)
 
(4,242
)
 
(4,480
)
Net current-period other comprehensive loss attributable to noncontrolling interests
—

 
158

 
158

Ending balance
$
1,977

 
$
(56,892
)
 
$
(54,915
)

See Note 8 for additional information on our derivative activity recognized within Other comprehensive loss for the periods presented.



CPA:18 – Global 3/31/2020 10-Q – 25

Notes to Condensed Consolidated Financial Statements (Unaudited)


Note 12. Segment Reporting

We operate in three reportable business segments: Net Lease, Self Storage, and Other Operating Properties. Our Net Lease segment includes our investments in net-leased properties, whether they are accounted for as operating leases or direct financing leases. Our Self Storage segment is comprised of our investments in self-storage properties. Our Other Operating Properties segment is primarily comprised of our investments in student housing operating properties and multi-family residential properties (our last multi-family residential property was sold in January 2019). In addition, we have an All Other category that includes our notes receivable investments, one of which was repaid during the second quarter of 2019. The following tables present a summary of comparative results and assets for these business segments (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Net Lease
 
 
 
Revenues (a)
$
24,067

 
$
30,992

Operating expenses (b)
(20,602
)
 
(17,311
)
Interest expense
(6,858
)
 
(8,736
)
Other gains and (losses)
(3,440
)
 
43

Gain on sale of real estate, net
—

 
897

Benefit from (provision for) income taxes
639

 
(360
)
Net income attributable to noncontrolling interests
(700
)
 
(209
)
Net (loss) income attributable to CPA:18 – Global
$
(6,894
)
 
$
5,316

Self Storage
 
 
 
Revenues
$
15,356

 
$
14,839

Operating expenses
(9,095
)
 
(8,745
)
Interest expense
(3,356
)
 
(3,426
)
Other gains and (losses) (c)
(54
)
 
(668
)
Provision for income taxes
(31
)
 
(33
)
Net income attributable to CPA:18 – Global
$
2,820

 
$
1,967

Other Operating Properties
 
 
 
Revenues
$
2,747

 
$
2,622

Operating expenses
(1,485
)
 
(1,634
)
Interest expense
(252
)
 
(120
)
Other gains and (losses)
15

 
(39
)
Gain on sale of real estate, net
—

 
14,514

Benefit from (provision for) income taxes
14

 
(23
)
Net loss (income) attributable to noncontrolling interests
5

 
(2,789
)
Net income attributable to CPA:18 – Global
$
1,044

 
$
12,531

All Other (d)
 
 
 
Revenues
$
710

 
$
1,833

Operating expenses
—

 
(1
)
Net income attributable to CPA:18 – Global
$
710

 
$
1,832

Corporate
 
 
 
Unallocated Corporate Overhead (e)
$
(3,944
)
 
$
(4,971
)
Net income attributable to noncontrolling interests — Available Cash Distributions
$
(1,916
)
 
$
(1,848
)
Total Company
 
 
 
Revenues
$
42,880

 
$
50,294

Operating expenses (b)
(36,228
)
 
(32,272
)
Interest expense
(10,489
)
 
(12,357
)
Other gains and (losses) (c)
(2,126
)
 
(476
)
Gain on sale of real estate, net
—

 
15,408

Benefit from (provision for) income taxes
394

 
(924
)
Net income attributable to noncontrolling interests
(2,611
)
 
(4,846
)
Net (loss) income attributable to CPA:18 – Global
$
(8,180
)
 
$
14,827



CPA:18 – Global 3/31/2020 10-Q – 26

Notes to Condensed Consolidated Financial Statements (Unaudited)


 
Total Assets
 
March 31, 2020
 
December 31, 2019
Net Lease
$
1,463,826

 
$
1,517,659

Self Storage
365,907

 
369,883

Other Operating Properties
215,628

 
213,692

Corporate
76,018

 
105,407

All Other
28,165

 
28,162

Total Company
$
2,149,544

 
$
2,234,803

__________
(a)
The three months ended March 31, 2020 and 2019 includes straight-line rent amortization of $0.7 million and $0.9 million, respectively. The three months ended March 31, 2020 includes a $7.0 million write-off of straight-line rent receivables (Note 2). Straight-line lease revenue is only recognized when deemed probable of collection, and is included within Lease revenues — net-leased within our condensed consolidated financial statements.
(b)
The three months ended March 31, 2020 includes an allowance for credit loss of $4.9 million in connection with our adoption of ASU 2016-13 (Note 2).
(c)
Includes Equity in losses of equity method investment in real estate.
(d)
Included in the all other category are our notes receivable investments, one of which was repaid during the second quarter of 2019.
(e)
Included in unallocated corporate overhead are expenses and other gains and (losses) that are calculated and reported at the portfolio level and not evaluated as part of any segment’s operating performance. Such items include asset management fees, general and administrative expenses, and gains and losses on foreign currency transactions and derivative instruments. Asset management fees totaled $3.0 million and $2.9 million for the three months ended March 31, 2020 and 2019, respectively (Note 3).

Note 13. Subsequent Events

The global spread of COVID-19 has created significant uncertainty and economic disruption, both in the near-term and potentially longer-term. The extent to which this pandemic could affect our financial condition, liquidity, and results of operations is difficult to predict and depends on evolving factors, including: duration, scope, government actions, and other social responses.

Our advisor is closely monitoring the impact of COVID-19 on all aspects of our business, including how it will impact our portfolio and tenant credit health (including our tenants’ ability to pay rent) as well as our liquidity, capital allocation, and balance sheet management. Our advisor continues to actively engage in discussions with our tenants and with the third-party managers of our operating properties regarding the impact of COVID-19 on business operations, liquidity, prospects, and financial position.

The extent to which the COVID-19 pandemic impacts our operations and those of our tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity, and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others.



CPA:18 – Global 3/31/2020 10-Q – 27



Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
 
Management’s Discussion and Analysis of Financial Condition and Results of Operations is intended to provide the reader with information that will assist in understanding our financial statements and the reasons for changes in certain key components of our financial statements from period to period. Management’s Discussion and Analysis of Financial Condition and Results of Operations also provides the reader with our perspective on our financial position and liquidity, as well as certain other factors that may affect our future results. Our Management’s Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the 2019 Annual Report and subsequent reports filed under the Securities Exchange Act of 1934.

Business Overview

As described in more detail in Item 1 of the 2019 Annual Report, we are a publicly owned, non-traded REIT that invests in a diversified portfolio of income-producing commercial properties leased to companies, and other real estate-related assets, both domestically and outside the United States. In addition, our portfolio includes self-storage and student housing properties. As a REIT, we are not subject to U.S. federal income taxation as long as we satisfy certain requirements, principally relating to the nature of our income, the level of our distributions, and other factors. We earn revenue principally by leasing the properties we own to single corporate tenants, primarily on a triple-net lease basis, which requires the tenant to pay substantially all of the costs associated with operating and maintaining the property. We derive self-storage revenue from rents received from customers who rent storage space primarily under month-to-month leases for personal or business use. We earn student housing revenue primarily from leases of one year or less with individual students. Revenue is subject to fluctuation because of the timing of new transactions, completion of build-to-suit and development projects, lease terminations, lease expirations, contractual rent adjustments, tenant defaults, sales of properties, and foreign currency exchange rates. We commenced operations in May 2013 and are managed by our Advisor. We hold substantially all of our assets and conduct substantially all of our business through our Operating Partnership. We are the general partner of, and own 99.97% of the interests in, the Operating Partnership. The remaining interest in the Operating Partnership is held by a subsidiary of WPC.

Significant Developments

COVID-19

The global spread of COVID-19, which has been declared a pandemic by the World Health Organization, has created significant uncertainty and economic disruption, both in the near-term and potentially longer-term. The extent to which this pandemic could affect our financial condition, liquidity, and results of operations is difficult to predict and depends on evolving factors, including: duration, scope, government actions, and, other social responses.

The impact of the pandemic both in the United States and globally has been rapidly evolving. It continues to adversely impact commercial activity and cause uncertainty and volatility in financial markets. The outbreak is expected to have a continued adverse impact on economic and market conditions for the foreseeable future and to trigger a period of global economic slowdown with no known duration. The rapid development and fluidity of this situation is without precedent in modern history and the ultimate adverse impact of the COVID-19 pandemic at this time is unknown. Consequently, the COVID-19 pandemic presents material uncertainty and risk with respect to our performance and financial results (such as the potential negative impact to occupancy and our tenants’ ability to meet their financial obligations), results of operations or market values at our properties, increased risk of defaults, decreased availability of financing arrangements, additional potential risks arising from changes in law and/or regulation, and uncertainty regarding government and regulatory policy. Conditions in the bank lending, capital, and other financial markets may continue to deteriorate as a result of the pandemic, and our access to capital and other sources of funding may become constrained, which could adversely affect the availability and terms of future borrowings, renewals, or refinancings. In addition, the deterioration of global economic conditions as a result of the pandemic is likely to negatively impact our tenants.

We are closely monitoring the impact of COVID-19 on all aspects of our business, portfolio, and tenant credit health, as well as our liquidity, capital allocation, and balance sheet management. Our net lease portfolio includes exposure to hotel and leisure and student housing properties (see Item 3. Quantitative and Qualitative Disclosures About Market Risk for concentrations); these sectors have been significantly impacted by the pandemic.



CPA:18 – Global 3/31/2020 10-Q – 28



In response to early reports of the suspected transmission of COVID-19 in both the United States and Europe, in late February and early March, our Advisor initiated steps to prioritize the health and safety of its employees. By mid-March, our Advisor fully transitioned all employees in its four offices — New York, Dallas, London, and Amsterdam — to working remotely and successfully executed its business continuity plan, with all of its core financial, operational, and telecommunication systems operating from a cloud-based environment with no disruption.

Our Advisor continues to actively engage in discussions with our tenants and with the third-party managers of our operating properties regarding the impact of COVID-19 on business operations, liquidity, and financial position. In April, net lease contractual base rent payments representing 90% of the total contractual base rent of our net lease portfolio (weighted by ABR) were due. Through the date of this Report, we received from tenants substantially all net lease contractual base rent that was due in the first quarter and 84% of net lease contractual base rent that was due in April.

Given the significant uncertainty around the duration and severity of the impact of COVID-19, we are unable to predict the impact it will have on our tenants’ continued ability to pay rent. Therefore, information provided regarding March and April rent collections should not serve as an indication of expected future rent collections.

As of March 31, 2020, our debt and interest obligations due within one year totaled $159.3 million. In addition, we expect to fund capital commitments of $188.9 million in the next year, primarily for our 12 student housing development projects (five of which are scheduled to be completed in 2020). We believe we have sufficient liquidity to meet our liquidity and capital resource requirements primarily through available cash and cash equivalents, restricted cash, cash received under net lease and operating lease agreements, and undrawn capacity under our construction loans. Additional sources of liquidity, if necessary, includes leveraging our unleveraged properties, refinancing existing debt obligations, asset sales, and paying all asset management fees to our Advisor in shares (which effective April 1, 2020, our Advisor elected to receive all of the asset management fees in shares of our Class A common stock). Our Advisor may also provide us with a line of credit at its discretion.

The extent to which COVID-19 impacts our operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the outbreak and actions taken to contain COVID-19 or treat its impact, among others. The potential impact of COVID-19 on our tenants and properties could have a material adverse effect on our business, financial condition, NAVs, liquidity, results of operations, and prospects.

Net Asset Values

Our Advisor calculates our NAVs as of each quarter-end by relying in part on rolling update appraisals covering approximately 25% of our real estate portfolio each quarter, adjusted to give effect to the estimated fair value of our debt (all provided by an independent third party) and for other relevant factors. Since our quarterly NAVs are not based on an appraisal of our full portfolio, to the extent any new quarterly NAV adjustments are within 1% of our previously disclosed NAVs, our quarterly NAVs will remain unchanged. We monitor properties not appraised during the quarter to identify any that may have experienced a significant event and obtain updated third-party appraisals for such properties. Our NAVs are based on a number of variables, including individual tenant credits, lease terms, lending credit spreads, foreign currency exchange rates, share counts, tenant defaults, and development projects that are not yet generating income, among others. We do not control all of these variables and, as such, cannot predict how they will change in the future. Costs associated with our development projects (which are not yet generating income) are not appraised quarterly and are carried at cost, which approximates fair value. These costs are included in Real estate under construction in our condensed consolidated financial statements. Our NAVs as of December 31, 2019 were $8.94 for both our Class A and Class C common stock. Please see our Current Report on Form 8-K dated March 12, 2020 for additional information regarding the calculation of our NAVs. Our Advisor currently intends to determine our quarterly NAVs as of March 31, 2020 during the second quarter of 2020.

The accrued distribution and shareholder servicing fee payable has been valued using a hypothetical liquidation value and, as a result, the NAVs do not reflect any obligation to pay future distribution and shareholder servicing fees. As of March 31, 2020, the liability balance for the distribution and shareholder servicing fee was $1.4 million, which includes $0.5 million related to the first quarter of 2020. We currently expect that we will cease incurring the distribution and shareholder servicing fee during the third quarter of 2020, at which time the total underwriting compensation paid in respect of the offering will reach 10.0% of the gross offering proceeds (Note 3).



CPA:18 – Global 3/31/2020 10-Q – 29

Financial Highlights

During the three months ended March 31, 2020, we completed the following, as further described in the condensed consolidated financial statements.

Financing Activity

On March 13, 2020, we obtained a construction loan of $22.5 million (amount based on the exchange rate of the euro at the date of the loan) for a student housing development project in Barcelona, Spain. The loan is comprised of four tranches with a weighted average variable interest rate of 2.1% as of March 31, 2020. Interest only payments are due on outstanding draws through its scheduled maturity date of December 2023. A total of $16.8 million was drawn on the loan as of March 31, 2020 (Note 9).

Consolidated Results

(in thousands)
 
Three Months Ended March 31,
 
2020
 
2019
Total revenues
$
42,880

 
$
50,294

Net (loss) income attributable to CPA:18 – Global
(8,180
)
 
14,827

 
 
 
 
Cash distributions paid
22,745

 
22,264

 
 
 
 
Net cash provided by operating activities
22,808

 
21,859

Net cash used in investing activities
(45,158
)
 
(20,926
)
Net cash used in financing activities
(5,758
)
 
(29,531
)
 
 
 
 
Supplemental financial measures (a):
 
 
 
FFO attributable to CPA:18 – Global
5,024

 
16,428

MFFO attributable to CPA:18 – Global
18,520

 
15,676

Adjusted MFFO attributable to CPA:18 – Global
17,641

 
16,018

__________
(a)
We consider the performance metrics listed above, including Funds from operations (“FFO”), MFFO, and Adjusted modified funds from operations (“Adjusted MFFO”), which are supplemental measures that are not defined by GAAP (“non-GAAP measures”), to be important measures in the evaluation of our operating performance. See Supplemental Financial Measures below for our definitions of these non-GAAP measures and reconciliations to their most directly comparable GAAP measures.

Revenues and Net (Loss) Income Attributable to CPA:18 – Global

Total revenues decreased for the three months ended March 31, 2020 as compared to the same period in 2019, primarily due to the write-off of straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels (Note 2).

During the current year period we recognized a Net loss attributable to CPA:18 – Global as compared to net income in the prior year period, primarily due to the gains on sale of real estate recognized during the prior year period, the straight-line rent write-offs as noted above, and the losses incurred during the three months ended March 31, 2020 relating to the allowance for credit losses recognized in accordance with ASU 2016-13 (Note 2) and loss as a result of the Ghana VAT receivable write-off (Note 4). These decreases were partially offset by a decrease in interest expense due to the refinancings and dispositions of encumbered properties subsequent to the three months ended March 31, 2019 and increased capitalized interest on our student housing development projects, the collection of back rents during the current year period relating to a lease restructure during the second quarter of 2019 with our tenant, Fortenova (formerly Agrokor), and termination income received for one of our properties during the three months ended March 31, 2020.


CPA:18 – Global 3/31/2020 10-Q – 30


FFO, MFFO, and Adjusted MFFO Attributable to CPA:18 – Global

FFO decreased $11.4 million for the three months ended March 31, 2020 as compared to the same period in 2019, primarily due to the write-off of straight-line rent (based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels) and the losses incurred relating to the allowance for credit losses and Ghana VAT receivable write-off as noted above. These decreases were partially offset by a reduction in interest expense as noted above, an increase in operating property revenues primarily from higher occupancies at our student housing and self-storage properties, and a deferred tax benefit resulting from straight-line rent receivable write-offs.

MFFO and Adjusted MFFO increased $2.8 million and $1.6 million, respectively for the three months ended March 31, 2020 as compared to the same period in 2019, primarily due to the decrease in interest expense and increase in operating revenues as noted above, as well as the collection of back rents relating to a lease restructure during the second quarter of 2019, and termination income received for one of our properties during the three months ended March 31, 2020. These increases were partially offset by a decrease in interest income due to the Mills Fleet mezzanine loan repayment in April 2019.


CPA:18 – Global 3/31/2020 10-Q – 31



Portfolio Overview

We hold a diversified portfolio of income-producing commercial real estate properties and other real estate-related assets. We make investments both domestically and internationally. In addition, our portfolio includes self-storage and student housing properties for the periods presented below. Portfolio information is provided on a pro rata basis, unless otherwise noted below, to better illustrate the economic impact of our various jointly owned net-leased and operating investments. See Terms and Definitions below for a description of pro rata amounts.

Portfolio Summary
 
March 31, 2020
 
December 31, 2019
Number of net-leased properties
47

 
47

Number of operating properties (a)
70

 
70

Number of development projects
12

 
12

Number of tenants (net-leased properties)
65

 
61

Total portfolio square footage (in thousands)
15,133

 
15,130

Occupancy — (net-leased properties)
98.6
%
 
99.4
%
Weighted-average lease term (net-leased properties in years)
9.4

 
9.4

Number of countries
12

 
12

Total assets (consolidated basis in thousands)
$
2,149,544

 
$
2,234,803

Net investments in real estate (consolidated basis in thousands)
1,902,350

 
1,946,720

Debt, net — pro rata (in thousands)
1,110,028

 
1,126,326

 
Three Months Ended March 31,
(dollars in thousands, except exchange rates)
2020
 
2019
Acquisition volume — consolidated (b)
$
—

 
$
29,736

Acquisition volume — pro rata (c)
—

 
29,736

Financing obtained — consolidated
24,982

 
4,229

Financing obtained — pro rata
24,164

 
6,359

Average U.S. dollar/euro exchange rate
1.1020

 
1.1356

Average U.S. dollar/Norwegian krone exchange rate
0.1058

 
0.1166

Average U.S. dollar/British pound sterling exchange rate
1.2808

 
1.3013

Change in the U.S. CPI (d)
0.4
 %
 
1.2
%
Change in the Netherlands CPI (d)
0.1
 %
 
1.3
%
Change in the Norwegian CPI (d)
(0.1
)%
 
0.5
%
__________
(a)
As of March 31, 2020, our operating portfolio consisted of 68 self-storage properties and two student housing operating properties, all of which are managed by third parties.
(b)
Comprised of development project transactions and related budget amendments, which are reflected as the total commitment for the development project funding, and excludes investments in unconsolidated joint ventures.
(c)
Comprised of development project transactions and related budget amendments, which are reflected as the total commitment for the development project funding, and includes investments in unconsolidated joint ventures, which include our equity investment in real estate (Note 4).
(d)
Many of our lease agreements include contractual increases indexed to changes in the U.S. CPI, Netherlands CPI, Norwegian CPI, or other similar indices in the jurisdictions where the properties are located.



CPA:18 – Global 3/31/2020 10-Q – 32



The tables below present information about our portfolio on a pro rata basis as of and for the period ended March 31, 2020. See Terms and Definitions below for a description of Pro Rata Metrics, stabilized net operating income (“Stabilized NOI”), and ABR.

Portfolio Diversification by Property Type
(dollars in thousands)
Property Type
 
Stabilized NOI
 
Percent
Net-Leased
 
 
 
 
Office
 
$
9,646

 
30
%
Hospitality
 
3,396

 
10
%
Warehouse
 
3,272

 
10
%
Industrial
 
2,034

 
6
%
Retail
 
1,911

 
6
%
Residential
 
279

 
1
%
Net-Leased Total
 
20,538

 
63
%
 
 
 
 
 
Operating
 
 
 
 
Self storage
 
9,838

 
31
%
Other operating properties
 
2,034

 
6
%
Operating Total
 
11,872

 
37
%
Total
 
$
32,410

 
100
%

Portfolio Diversification by Geography
(dollars in thousands)
Region
 
Stabilized NOI
 
Percent
United States
 
 
 
 
South
 
$
7,495

 
23
%
Midwest
 
5,463

 
17
%
West
 
3,144

 
10
%
East
 
2,396

 
7
%
U.S. Total
 
18,498

 
57
%
 
 
 
 
 
International
 
 
 
 
Norway
 
2,525

 
8
%
Germany
 
2,356

 
7
%
The Netherlands
 
2,342

 
7
%
United Kingdom
 
2,034

 
6
%
Mauritius
 
1,244

 
4
%
Poland
 
1,082

 
3
%
Croatia
 
831

 
3
%
Canada
 
629

 
2
%
Slovakia
 
590

 
2
%
Spain
 
279

 
1
%
International Total
 
13,912

 
43
%
Total
 
$
32,410

 
100
%



CPA:18 – Global 3/31/2020 10-Q – 33



Top Ten Tenants by Total Stabilized NOI
(dollars in thousands)
Tenant/Lease Guarantor
 
Property Type
 
Tenant Industry
 
Location
 
Stabilized NOI
 
Percent
Fentonir Trading & Investments Limited (a)
 
Hospitality
 
Hotel and Leisure
 
Munich and Stuttgart, Germany
 
$
1,794

 
6
%
Sweetheart Cup Company, Inc.
 
Warehouse
 
Containers, Packaging and Glass
 
University Park, Illinois
 
1,553

 
5
%
Rabobank Groep NV (a)
 
Office
 
Banking
 
Eindhoven, Netherlands
 
1,418

 
4
%
Albion Resorts (Club Med) (a)
 
Hospitality
 
Hotel and Leisure
 
Albion, Mauritius
 
1,244

 
4
%
Bank Pekao S.A. (a)
 
Office
 
Banking
 
Warsaw, Poland
 
1,082

 
3
%
State Farm Automobile Co.
 
Office
 
Insurance
 
Austin, Texas
 
986

 
3
%
Siemens AS (a)
 
Office
 
Capital Equipment
 
Oslo, Norway
 
965

 
3
%
State of Iowa Board of Regents
 
Office
 
Sovereign and Public Finance
 
Coralville and Iowa City, Iowa
 
873

 
3
%
Belk, Inc.
 
Warehouse
 
Retail
 
Jonesville, South Carolina
 
821

 
3
%
COOP Ost SA(a)
 
Retail
 
Grocery
 
Oslo, Norway
 
745

 
2
%
Total
 
 
 
 
 
 
 
$
11,481

 
36
%
__________
(a)
Stabilized NOI amounts for these properties are subject to fluctuations in foreign currency exchange rates.



CPA:18 – Global 3/31/2020 10-Q – 34



Net-Leased Portfolio

The tables below represent information about our net-leased portfolio on a pro rata basis and, accordingly, exclude all operating properties as of March 31, 2020. See Terms and Definitions below for a description of Pro Rata Metrics, Stabilized NOI and ABR.

Portfolio Diversification by Tenant Industry
(dollars in thousands)
Industry Type
 
ABR
 
Percent
Hotel and Leisure
 
$
14,278

 
16
%
Banking
 
10,352

 
12
%
Grocery
 
6,250

 
7
%
Containers, Packaging, and Glass
 
6,213

 
7
%
Insurance
 
4,849

 
6
%
Capital Equipment
 
4,546

 
6
%
Utilities: Electric
 
3,910

 
4
%
Retail
 
3,700

 
4
%
Metals and Mining
 
3,683

 
4
%
Oil and Gas
 
3,666

 
4
%
Sovereign and Public Finance
 
3,547

 
4
%
Advertising, Printing, and Publishing
 
3,440

 
4
%
High Tech Industries
 
3,109

 
4
%
Business Services
 
2,925

 
3
%
Healthcare and Pharmaceuticals
 
2,574

 
3
%
Automotive
 
1,984

 
2
%
Construction and Building
 
1,521

 
2
%
Residential
 
1,380

 
2
%
Non-Durable Consumer Goods
 
1,262

 
1
%
Telecommunications
 
1,094

 
1
%
Electricity
 
1,073

 
1
%
Wholesale
 
1,049

 
1
%
Cargo Transportation
 
977

 
1
%
Other (a)
 
398

 
1
%
Total
 
$
87,780

 
100
%
__________
(a)
Includes ABR from tenants in the following industries: environmental industries, durable consumer goods, and consumer services.



CPA:18 – Global 3/31/2020 10-Q – 35



Lease Expirations
(dollars in thousands)
Year of Lease Expiration (a)
 
Number of Leases Expiring
 
ABR
 
Percent
Remaining 2020
 
1

 
$
2

 
—
%
2021
 
2

 
868

 
1
%
2022
 
2

 
110

 
—
%
2023
 
11

 
14,165

 
16
%
2024
 
16

 
5,243

 
6
%
2025
 
6

 
4,312

 
5
%
2026
 
5

 
7,478

 
9
%
2027
 
6

 
6,027

 
7
%
2028
 
4

 
5,310

 
6
%
2029
 
3

 
8,958

 
10
%
2030
 
2

 
3,961

 
4
%
2031
 
4

 
4,963

 
6
%
2032
 
5

 
8,440

 
10
%
Thereafter (>2032)
 
11

 
17,943

 
20
%
Total
 
78

 
$
87,780

 
100
%
__________
(a)
Assumes tenant does not exercise renewal option.

Lease Composition and Leasing Activities

Substantially all of our leases provide for either scheduled rent increases, periodic rent adjustments based on formulas indexed to changes in the CPI or similar indices, or percentage rents. As of March 31, 2020, approximately 49.4% of our leases (based on ABR) provided for adjustments based on formulas indexed to changes in the U.S. CPI (or similar indices for the jurisdiction in which the property is located), some of which are subject to caps and/or floors. In addition, 49.0% of our leases (based on ABR) have fixed rent adjustments, for a scheduled average ABR increase of 1.7% over the next 12 months. Lease revenues from our international investments are subject to exchange rate fluctuations, primarily from the euro. We recognize rents from percentage rents as reported by the lessees, which is after the level of sales requiring a rental payment to us is reached. Percentage rents are insignificant for the periods presented.



CPA:18 – Global 3/31/2020 10-Q – 36



Operating Properties

As of March 31, 2020, our operating portfolio consisted of 68 self-storage properties and two student housing operating properties. As of March 31, 2020, our operating portfolio was comprised as follows (square footage in thousands):
Location
 
Number of Properties
 
Square Footage
Florida
 
21

 
1,779

Texas
 
12

 
843

California
 
10

 
860

Nevada
 
3

 
243

Delaware
 
3

 
241

Georgia
 
3

 
171

Illinois
 
2

 
100

Hawaii
 
2

 
95

Kentucky
 
1

 
121

North Carolina
 
1

 
121

Washington, D.C.
 
1

 
67

South Carolina
 
1

 
63

New York
 
1

 
61

Louisiana
 
1

 
59

Massachusetts
 
1

 
58

Missouri
 
1

 
41

Oregon
 
1

 
40

U.S. Total
 
65

 
4,963

Canada
 
3

 
317

United Kingdom
 
2

 
215

International Total
 
5

 
532

Total
 
70

 
5,495




CPA:18 – Global 3/31/2020 10-Q – 37



Development Projects

As of March 31, 2020, we had the following 12 consolidated student housing development projects, including joint ventures, which remain under construction (dollars in thousands):
Location
 
Ownership Percentage (a)
 
Number of Buildings
 
Square Footage
 
Estimated Project
Totals (b) (c)
 
Amount Funded (b) (c)
 
Estimated Completion Date
Austin, Texas
 
90.0
%
 
1

 
185,720

 
$
74,469

 
$
55,807

 
 Q3 2020
San Sebastian, Spain (d)
 
100.0
%
 
1

 
126,075

 
33,157

 
22,846

 
 Q3 2020
Barcelona, Spain (d)
 
100.0
%
 
3

 
77,504

 
28,744

 
22,311

 
 Q3 2020
Malaga, Spain (d)
 
100.0
%
 
2

 
230,329

 
38,167

 
15,707

 
 Q4 2020
Porto, Portugal (d)
 
98.5
%
 
1

 
102,112

 
22,389

 
8,909

 
 Q4 2020
Coimbra, Portugal (d)
 
98.5
%
 
1

 
135,076

 
24,206

 
10,931

 
 Q1 2021
Bilbao, Spain (d)
 
100.0
%
 
1

 
179,279

 
48,444

 
11,135

 
 Q3 2021
Seville, Spain (d)
 
75.0
%
 
1

 
163,477

 
40,320

 
15,690

 
 Q3 2021
Pamplona, Spain (d)
 
100.0
%
 
1

 
91,363

 
27,369

 
9,811

 
 Q3 2021
Swansea, United Kingdom (e)
 
97.0
%
 
1

 
176,496

 
62,788

 
27,849

 
 Q3 2022
Valencia, Spain (d)
 
98.7
%
 
1

 
100,423

 
24,577

 
7,093

 
 Q3 2022
Granada, Spain (d)
 
98.5
%
 
1

 
75,557

 
21,204

 
4,448

 
 Q3 2022
 
 
 
 
15

 
1,643,411

 
$
445,834

 
212,537

 
 
Third-party contributions (f)
 
 
 
 
 
 
 
 
 
(7,101
)
 
 
Total
 
 
 
 
 
 
 
 
 
$
205,436

 
 
__________
(a)
Represents our expected ownership percentage upon the completion of each respective development project.
(b)
Amounts related to our 11 international development projects are denominated in a foreign currency. For these projects, amounts are based on their respective exchange rates as of March 31, 2020.
(c)
Amounts exclude capitalized interest, accrued costs, and capitalized acquisition fees paid to our Advisor, which are all included in Real estate under construction on our condensed consolidated balance sheets.
(d)
Included as part of an agreement with a third-party to become a net-leased property upon completion of construction.
(e)
Amount funded for the project includes a $6.8 million right-of-use land lease asset that is included in In-place lease and other intangible assets on our condensed consolidated balance sheets.
(f)
Amount represents the funds contributed from our joint-venture partners.



CPA:18 – Global 3/31/2020 10-Q – 38



Terms and Definitions

Pro Rata Metrics — The portfolio information above contains certain metrics prepared under the pro rata consolidation method (“Pro Rata Metrics”). We have a number of investments in which our economic ownership is less than 100%. Under the full consolidation method, we report 100% of the assets, liabilities, revenues, and expenses of those investments that are deemed to be under our control or for which we are deemed to be the primary beneficiary, even if our ownership is less than 100%. Also, for all other jointly owned investments, which we do not control, we report our net investment and our net (loss) income from that investment. Under the pro rata consolidation method, we generally present our proportionate share, based on our economic ownership of these jointly owned investments, of the portfolio metrics of those investments. Multiplying each of our jointly owned investments’ financial statement line items by our percentage ownership and adding or subtracting those amounts from our totals, as applicable, may not accurately depict the legal and economic implications of holding an ownership interest of less than 100% in our jointly owned investments.

ABR — ABR represents contractual minimum annualized base rent for our net-leased properties, adjusted for collectibility as determined by GAAP, and reflects exchange rates as of March 31, 2020. If there is a rent abatement, we annualize the first monthly contractual base rent following the free rent period. ABR is not applicable to operating properties.

NOI — Net operating income (“NOI”) is a non-GAAP measure intended to reflect the performance of our entire portfolio of properties. We define NOI as rental revenues less non-reimbursable property expenses as determined by GAAP. We believe that NOI is a helpful measure that both investors and management can use to evaluate the financial performance of our properties and it allows for comparison of our portfolio performance between periods and to other REITs. While we believe that NOI is a useful supplemental measure, it should not be considered as an alternative to Net (loss) income as an indication of our operating performance.

Stabilized NOI — We use Stabilized NOI, a non-GAAP measure, as a metric to evaluate the performance of our entire portfolio of properties. Stabilized NOI for development projects and newly acquired operating properties that are not yet substantially leased up are not included in our portfolio information until one year after the project has been substantially completed and placed into service, or the property has been substantially leased up (and the project or property has not been disposed of during or prior to the current period). In addition, any newly acquired stabilized operating property is included in our portfolio of Stabilized NOI information upon acquisition. Stabilized NOI for a net-leased property is included in our portfolio information upon acquisition or in the period when it is placed into service (as the property will already have a lease in place).

Stabilized NOI is adjusted for corporate expenses, such as asset management fees and the Available Cash Distributions to our Advisor (Note 3), as well as other gains and (losses) that are calculated and reported at the corporate level and not evaluated as part of any property’s operating performance. Additionally, non-cash adjustments (such as straight-line rent adjustments) and interest income related to our notes receivable (which is non-property related) are not included in Stabilized NOI. Lastly, non-core income is excluded from Stabilized NOI as this income is generally not recurring in nature.

We believe that Stabilized NOI is a helpful measure that both investors and management can use to evaluate the financial performance of our properties and it allows for comparison of our portfolio performance between periods and to other REITs. While we believe that Stabilized NOI is a useful supplemental measure, it should not be considered as an alternative to Net (loss) income as an indication of our operating performance.



CPA:18 – Global 3/31/2020 10-Q – 39



Reconciliation of Net (Loss) Income (GAAP) to Net Operating Income Attributable to CPA:18 – Global (non-GAAP) (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Net (Loss) Income (GAAP)
$
(5,569
)
 
$
19,673

Adjustments:
 
 
 
Depreciation and amortization
14,530

 
15,372

Allowance for credit losses
4,865

 
—

Interest expense
10,489

 
12,357

Other gains and (losses)
2,072

 
(172
)
Equity in losses of equity method investment in real estate
54

 
648

Gain on sale of real estate, net
—

 
(15,408
)
Benefit from (provision for) income taxes
(394
)
 
924

NOI related to noncontrolling interests (1)
(2,985
)
 
(3,095
)
NOI related to equity method investment in real estate (2)
630

 
139

Net Operating Income Attributable to CPA:18 – Global (Non-GAAP)
$
23,692

 
$
30,438

 
 
 
 
(1) NOI related to noncontrolling interests:
 
 
 
Net income attributable to noncontrolling interests (GAAP)
$
(2,611
)
 
$
(4,846
)
Depreciation and amortization
(1,534
)
 
(1,610
)
Interest expense
(1,134
)
 
(1,256
)
Other gains and (losses)
341

 
(110
)
Gain on sale of real estate, net
—

 
2,874

Benefit from income taxes
37

 
5

Available Cash Distributions to a related party (Note 3)
1,916

 
1,848

NOI related to noncontrolling interests
$
(2,985
)
 
$
(3,095
)
 
 
 
 
(2) NOI related to equity method investment in real estate:
 
 
 
Equity in losses of equity method investment in real estate (GAAP)
$
(54
)
 
$
(648
)
Depreciation and amortization
208

 
313

Interest expense
458

 
441

Other gains and (losses)
5

 
(6
)
Benefit from income taxes
13

 
39

NOI related to equity method investment in real estate
$
630

 
$
139




CPA:18 – Global 3/31/2020 10-Q – 40



Reconciliation of Stabilized NOI to Net Operating Income Attributable to CPA:18 – Global (Non-GAAP) (pro rata, in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Net-leased
$
20,538

 
$
21,784

Self storage
9,838

 
9,100

Other operating properties
2,034

 
—

Stabilized NOI
32,410

 
30,884

Other NOI:
 
 
 
Straight-line rent adjustments (a)
(5,807
)
 
974

Corporate (b)
(5,110
)
 
(5,111
)
Non-core income (c)
1,538

 
—

Notes receivable
710

 
1,832

Disposed properties
(22
)
 
303

 
23,719

 
28,882

Build-to-Suit and Development Projects (d)
(27
)
 
(94
)
Recently-opened operating properties (e)
—

 
1,650

Net Operating Income Attributable to CPA:18 – Global (Non-GAAP)
$
23,692

 
$
30,438

_________
(a)
The three months ended March 31, 2020 includes a $7.0 million write-off of straight-line rent receivables (Note 2).
(b)
Includes expenses such as asset management fees, the Available Cash Distributions to our Advisor, as well as other gains and (losses) that are calculated and reported at the corporate level and not evaluated as part of any property’s operating performance.
(c)
Includes NOI related to back rents collected from tenants that were previously reserved in prior periods as well as termination income received.
(d)
The three months ended March 31, 2020 includes NOI for our ongoing student housing development projects. The three months ended March 31, 2019, includes NOI for a student housing development project that was placed into service during the third quarter of 2019. Refer to the Development Projects table above for a listing of all current projects.
(e)
The three months ended March 31, 2019 includes NOI for the student housing operating properties located in Portsmouth and Cardiff, United Kingdom, which were completed during the third quarter of 2018, as well as phases of the Canadian self-storage properties that were placed into service during the year ended December 31, 2018.




CPA:18 – Global 3/31/2020 10-Q – 41



Results of Operations

We evaluate our results of operations with a focus on: (i) our ability to generate the cash flow necessary to meet our objectives of funding distributions to stockholders and (ii) increasing the value of our real estate investments. As a result, our assessment of operating results gives less emphasis to the effect of unrealized gains and losses, which may cause fluctuations in net income for comparable periods but have no impact on cash flows, and to other non-cash charges, such as depreciation and impairment charges.

Property Level Contribution

The following table presents the property level contribution for our consolidated net-leased and operating properties, as well as a reconciliation to net (loss) income attributable to CPA:18 – Global (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
 
Change
Existing Net-Leased Properties
 
 
 
 
 
Lease revenues
$
22,016

 
$
30,009

 
$
(7,993
)
Depreciation and amortization
(10,668
)
 
(11,170
)
 
502

Reimbursable tenant costs
(3,128
)
 
(3,923
)
 
795

Property expenses
(2,020
)
 
(1,599
)
 
(421
)
Property level contribution
6,200

 
13,317

 
(7,117
)
Recently Net-Leased Student Housing Properties
 
 
 
 
 
Lease revenues
345

 
—

 
345

Depreciation and amortization
(68
)
 
—

 
(68
)
Property expenses
(62
)
 
—

 
(62
)
Property level contribution
215

 
—

 
215

Existing Operating Properties
 
 
 
 
 
Operating property revenues
18,100

 
17,106

 
994

Operating property expenses
(6,724
)
 
(6,408
)
 
(316
)
Depreciation and amortization
(3,794
)
 
(3,836
)
 
42

Property level contribution
7,582

 
6,862

 
720

Properties Sold, Held for Sale, or Transferred
 
 
 
 
 
Lease revenues
—

 
905

 
(905
)
Operating property revenues
—

 
355

 
(355
)
Depreciation and amortization
—

 
(366
)
 
366

Reimbursable tenant costs
—

 
(101
)
 
101

Property expenses
—

 
(184
)
 
184

Operating property expenses
—

 
(58
)
 
58

Property level contribution
—

 
551

 
(551
)
Property Level Contribution
13,997

 
20,730

 
(6,733
)
Add other income:
 
 
 
 
 
Interest income and other
2,419

 
1,919

 
500

Less other expenses:
 
 
 
 
 
Allowance for credit losses

(4,865
)
 
—

 
(4,865
)
Asset management fees
(3,002
)
 
(2,868
)
 
(134
)
General and administrative
(1,897
)
 
(1,759
)
 
(138
)
 
6,652

 
18,022

 
(11,370
)
Other Income and Expenses
 
 
 
 
 
Interest expense
(10,489
)
 
(12,357
)
 
1,868

Other gains and (losses)
(2,072
)
 
172

 
(2,244
)
Equity in losses of equity method investment in real estate
(54
)
 
(648
)
 
594

Gain on sale of real estate, net
—

 
15,408

 
(15,408
)
 
(12,615
)
 
2,575

 
(15,190
)
(Loss) income before income taxes
(5,963
)
 
20,597

 
(26,560
)
Benefit from (provision for) income taxes
394

 
(924
)
 
1,318

Net (Loss) Income
(5,569
)
 
19,673

 
(25,242
)
Net income attributable to noncontrolling interests
(2,611
)
 
(4,846
)
 
2,235

Net (Loss) Income Attributable to CPA:18 – Global
$
(8,180
)
 
$
14,827

 
$
(23,007
)



CPA:18 – Global 3/31/2020 10-Q – 42



Property level contribution is a non-GAAP measure that we believe to be a useful supplemental measure for management and investors in evaluating and analyzing the financial results of our net-leased and operating properties over time. Property level contribution presents the lease and operating property revenues, less property expenses, reimbursable tenant costs, and depreciation and amortization. Reimbursable tenant costs (revenues) are included within Lease revenues in the condensed consolidated statements of operations. We believe that Property level contribution allows for meaningful comparison between periods of the direct costs of owning and operating our net-leased assets and operating properties. When a property is leased on a net lease basis, reimbursable tenant costs are recorded as both income and property expense and, therefore, have no impact on the Property level contribution. While we believe that Property level contribution is a useful supplemental measure, it should not be considered as an alternative to Net (loss) income attributable to CPA:18 – Global as an indication of our operating performance.

Existing Net-Leased Properties

Existing net-leased properties are those we acquired or placed into service prior to January 1, 2019 and were not sold during the periods presented. For the periods presented, there were 46 existing net-leased properties.

For the three months ended March 31, 2020 as compared to the same period in 2019, property level contribution from existing net-leased properties decreased, primarily due to a $7.0 million write-off of straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels during the current year period (Note 2).

Recently Net-Leased Student Housing Properties

Recently net-leased student housing properties are those we placed into service subsequent to December 31, 2018 or remain under construction as a development project. For the periods presented, there were 11 recently net-leased student housing properties, which is comprised of a student housing property placed into service during the third quarter of 2019, and 10 ongoing student housing development projects.

Existing Operating Properties

Existing operating properties are those we acquired or placed into service prior to January 1, 2019 and were not sold during the periods presented. For the periods presented, there were 67 existing operating properties, which excludes two student housing development projects currently under construction.

For the three months ended March 31, 2020 as compared to the same period in 2019, property level contribution from existing operating properties increased by $0.7 million, primarily due to increased occupancy at our student housing and self-storage operating properties.

Properties Sold, Held for Sale, or Transferred

During 2019, we sold 11 properties in our United Kingdom net lease portfolio, as well as our last multi-family residential property located in Fort Walton Beach, Florida. During the three months ended March 31, 2019 we recognized gains on sale of real estate, as further described below.

Interest Income and Other

For the three months ended March 31, 2020 as compared to the same period in 2019, interest income and other increased $0.5 million, primarily due to $0.8 million in back rents collected in 2020 relating to a lease restructuring during the second quarter of 2019 with our tenant, Fortenova (formerly Agrokor), and $0.8 million in lease termination income recognized during the three months ended March 31, 2020. This was partially offset by a $1.1 million decrease in interest income due to the Mills Fleet mezzanine loan repayment in April 2019.

Allowance for Credit Losses

In accordance with our adoption of ASU 2016-13 (Note 2), we recorded an allowance for credit losses due to changes in expected economic conditions relating to a net investment in direct financing lease during the three months ended March 31, 2020 (Note 5).



CPA:18 – Global 3/31/2020 10-Q – 43



Asset Management Fees

Our advisor is entitled to an annual asset management fee, which is further described in Note 3.

Other Income and Expenses

Interest Expense

Our interest expense is directly impacted by the mortgage financings obtained, assumed, or extinguished in connection with our investing and disposition activity (Note 9).

For the three months ended March 31, 2020 as compared to the same period in 2019, interest expense decreased by $1.9 million primarily due to refinancing of construction loans during the fourth quarter of 2019, as well as a decrease in total debt primarily related to the sale of encumbered properties during the year ended 2019. Our average outstanding debt balance was $1.1 billion and $1.2 billion during the three months ended March 31, 2020, and 2019 respectively, with a weighted-average annual interest rate of 4.0% and 4.4%, respectively.

Other Gains and (Losses)

Other gains and (losses) primarily consists of gains and losses on foreign currency transactions and derivative instruments. We make intercompany loans to a number of our foreign subsidiaries, most of which do not have the U.S. dollar as their functional currency. Remeasurement of foreign currency intercompany transactions that are scheduled for settlement, consisting primarily of accrued interest and short-term loans, are included in the determination of net income. We also recognize gains or losses on foreign currencies held by entities with the U.S. dollar as their functional currency due to fluctuations in foreign exchange rates. The timing and amount of such gains or losses cannot always be estimated and are subject to fluctuation.

For the three months ended March 31, 2020 as compared to the same period in 2019, net other gains and (losses) decreased by $2.2 million, primarily due to a $2.8 million loss recognized for the Ghana VAT receivable write-off as collectibility was no longer deemed probable (Note 4), partially offset by $0.6 million increase due to foreign currency transaction gains being recognized during the three months ended March 31, 2020 (compared to losses in 2019), related to our international investments, primarily related to our short-term intercompany loans as described above.

Equity in Losses of Equity Method Investment in Real Estate

We have an interest in an unconsolidated investment in our Self Storage segment that relates to a joint venture for the development of three self-storage facilities in Canada.

For the three months ended March 31, 2020, as compared to the same period in 2019, equity in losses of equity method investment in real estate increased by $0.6 million primarily due an increase in operating revenues as occupancy rates increased, as well as a reduction to real estate tax expenses during the first quarter 2020.

Gain on Sale of Real Estate, Net

During the three months ended March 31, 2019, we sold our last domestic multi-family residential property, located in Fort Walton Beach, Florida, and a retail building located in Edinburgh, United Kingdom for total proceeds of $17.4 million, net of selling costs, and recorded an aggregate gain on sale of $16.6 million (which includes a $2.9 million gain attributable to noncontrolling interest). The gains on sale of real estate recognized for these dispositions were partially offset by the $1.1 million of disposition fees incurred during the three months ended March 31, 2019 in connection with certain 2018 and 2019 dispositions (Note 3).



CPA:18 – Global 3/31/2020 10-Q – 44



Benefit from (Provision for) Income Taxes

Our net benefit from (provision for) income taxes is primarily related to our international properties.

For the three months ended March 31, 2020, we recorded a benefit from income taxes of $0.4 million, as compared to a provision for income taxes of $0.9 million for the three months ended March 31, 2019. During the three months ended March 31, 2020, the benefit from income taxes recognized is primarily due to a deferred tax benefit of $1.0 million resulting from straight-line rent receivable write-offs based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels (Note 2), offset by a current tax provision of $0.4 million at one of our properties primarily due to termination income received during the current period.

Net Income Attributable to Noncontrolling Interests

For the three months ended March 31, 2020 compared to the same period in 2019, net income attributable to noncontrolling interests decreased by $2.2 million, primarily due to the gain on sale of our joint venture real estate disposal during the three months ended March 31, 2019.

Liquidity and Capital Resources

We use the cash flow generated from our investments primarily to meet our operating expenses, service debt, and fund distributions to stockholders. We currently expect that, for the short-term, the aforementioned cash requirements will be funded by our cash on hand and cash flow from operations. We may also use proceeds from financings and asset sales to fund development projects, build-to-suit investments, and short-term cash requirements.

Our liquidity would be adversely affected by unanticipated costs, greater-than-anticipated operating expenses, and the adverse impact of COVID-19, such as tenants not paying rental obligations. To the extent that our working capital reserve is insufficient to satisfy our cash requirements, additional funds may be provided from cash generated from operations or through short-term borrowings. We may also decide to pay all asset management fees to our Advisor in shares (which effective April 1, 2020, our Advisor elected to receive all of the asset management fees in shares of our Class A common stock). Our Advisor may provide us with a loan facility at its discretion. In addition, we may incur indebtedness by refinancing debt on existing properties, or arrange for the leveraging of any previously unfinanced property.

Sources and Uses of Cash During the Period

Our cash flows will fluctuate periodically due to a number of factors, which may include, among other things: the timing of funding for our build-to-suit and development projects; the timing of the receipt of proceeds from, and the repayment of, non-recourse secured debt, and the receipt of lease revenues; whether our Advisor receives fees in shares of our common stock or cash, which our board of directors must elect after consultation with our Advisor; the timing and characterization of distributions received from equity investments in real estate; the timing of payments of the Available Cash Distributions to our Advisor; and changes in foreign currency exchange rates. Despite these fluctuations, we believe our investments will generate sufficient cash from operations to meet our normal recurring short-term and long-term liquidity needs. We may also use existing cash resources, the proceeds of non-recourse secured debt, sales of assets, and distributions reinvested in our common stock through our DRIP to meet these needs. We assess our ability to access capital on an ongoing basis. Our sources and uses of cash during the period are described below.

Operating Activities — Net cash provided by operating activities increased $0.9 million during the three months ended March 31, 2020 as compared to the same period in 2019, primarily due to the collection of back rents in 2020 related to a lease restructure during the second quarter of 2019 and termination income received during the current year period.

Investing Activities — Our investing activities are generally comprised of funding of development projects, payment of deferred acquisition fees to our Advisor for asset acquisitions, and capitalized property-related costs.

Net cash used in investing activities totaled $45.2 million for the three months ended March 31, 2020 primarily due to $38.1 million used to fund construction costs of our development projects (Note 4), $3.6 million of VAT paid in connection with construction funding, and $3.1 million for capital expenditures on our owned real estate.



CPA:18 – Global 3/31/2020 10-Q – 45



Financing Activities — Net cash used in financing activities totaled $5.8 million for the three months ended March 31, 2020. This was primarily due to cash outflows of $22.7 million related to distributions paid to our stockholders, $8.2 million for the repurchase of shares of our common stock pursuant to our redemption program described below, $7.5 million for scheduled payments and prepayments of mortgage loan principal, and $3.4 million for distributions to noncontrolling interests. These cash outflows were primarily offset by $25.1 million from non-recourse mortgage financings (Note 9), $10.4 million of distributions that were reinvested by stockholders in shares of our common stock through our DRIP, and $0.6 million of contributions from noncontrolling interests.

Distributions

Our objectives are to generate sufficient cash flow over time to provide stockholders with distributions. For the three months ended March 31, 2020, we declared distributions to stockholders of $22.8 million, which were comprised of $11.9 million of cash distributions and $10.9 million reinvested by stockholders in shares of our common stock pursuant to our DRIP. From inception through March 31, 2020, we have declared distributions to stockholders totaling $503.6 million, which were comprised of cash distributions of $245.2 million and $258.4 million reinvested by stockholders in shares of our common stock pursuant to our DRIP.

We believe that FFO, a non-GAAP measure, is an appropriate metric to evaluate our ability to fund distributions to stockholders. For a discussion of FFO, see Supplemental Financial Measures below. Since inception, the regular quarterly cash distributions that we pay have principally been covered by FFO or cash flow from operations. However, we have funded a portion of our cash distributions to date using net proceeds from our initial public offering and there can be no assurance that our FFO or cash flow from operations will be sufficient to cover our future distributions. Our distribution coverage using FFO was approximately 22.0% (which includes a non-cash allowance for credit loss of $4.9 million and straight-line rent write-offs of $7.0 million (Note 2)) of total distributions declared for the three months ended March 31, 2020. Our distribution coverage using FFO (excluding the non-cash allowance for credit loss and straight-line rent write-offs) was approximately 73.8% of total distributions declared for the three months ended March 31, 2020. We funded 99.8% of total distributions declared for the three months ended March 31, 2020 from Net cash provided by operating activities, while the remainder was funded from other investing and financing cash flows.

Redemptions

We maintain a quarterly redemption program pursuant to which we may, at the discretion of our board of directors, redeem shares of our common stock from stockholders seeking liquidity. For the three months ended March 31, 2020, we received requests to redeem 682,991 and 264,268 shares of Class A and Class C common stock, respectively, comprised of 138 and 57 redemption requests, respectively, which we fulfilled at an average price of $8.58 per share for the Class A and Class C common stock, respectively. As of the date of this Report, we have fulfilled all of the valid redemption requests that we received for the three months ended March 31, 2020. Except for redemptions sought in certain defined special circumstances, the redemption price of the shares listed above was 95% of our most recently published quarterly NAVs. For shares redeemed under such special circumstances, the redemption price was the greater of the price paid to acquire the shares from us or 95% of our most recently published quarterly NAVs.



CPA:18 – Global 3/31/2020 10-Q – 46



Summary of Financing
 
The table below summarizes our non-recourse secured debt, net (dollars in thousands):
 
March 31, 2020
 
December 31, 2019
Carrying Value (a)
 
 
 
Fixed rate
$
921,584

 
$
951,748

Variable rate:
 
 
 
Amount subject to interest rate swaps and caps
192,455

 
184,361

Amount subject to floating interest rate
69,343

 
65,804

 
261,798

 
250,165

 
$
1,183,382

 
$
1,201,913

Percent of Total Debt
 
 
 
Fixed rate
78
%
 
79
%
Variable rate
22
%
 
21
%
 
100
%
 
100
%
Weighted-Average Interest Rate at End of Period
 
 
 
Fixed rate
4.0
%
 
3.9
%
Variable rate (b)
3.7
%
 
3.8
%
Total debt
3.9
%
 
3.9
%
___________
(a)
Aggregate debt balance includes unamortized deferred financing costs totaling $6.2 million and $5.8 million as of March 31, 2020 and December 31, 2019, respectively, and unamortized premium, net of $1.3 million and $2.1 million as of March 31, 2020 and December 31, 2019, respectively (Note 9).
(b)
The impact of our derivative instruments is reflected in the weighted-average interest rates.

Cash Resources
 
As of March 31, 2020, our cash resources consisted of cash and cash equivalents totaling $104.9 million. Of this amount, $15.7 million (at then-current exchange rates) was held in foreign subsidiaries, which may be subject to restrictions or significant costs should we decide to repatriate these funds. In addition, we had a restricted cash balance of $27.0 million primarily consisting of funds held in escrow per the terms of certain non-recourse mortgage loan agreements as well as the provisions set forth in our lease agreements with certain tenants. As of March 31, 2020, we had $23.8 million and $8.7 million available to borrow under our third-party and external joint-venture financing arrangements, respectively, primarily for funding of construction of certain development projects. Our cash resources may be used for future construction costs and can be used for working capital needs, other commitments, and distributions to our stockholders. In addition, our unleveraged properties had an aggregate carrying value of $186.8 million as of March 31, 2020, although there can be no assurance that we would be able to obtain financing for these properties.

Cash Requirements
 
During the next 12 months following the date of this Report, we expect that our cash requirements will include making payments to fund capital commitments such as development projects, paying distributions to our stockholders and to our affiliates that hold noncontrolling interests in entities we control, making share repurchases pursuant to our redemption plan, and making scheduled debt service payments, as well as other normal recurring operating expenses. Total principal payments of $114.1 million, including balloon payments totaling $104.6 million on our consolidated mortgage loan obligations, are due during the next 12 months.



CPA:18 – Global 3/31/2020 10-Q – 47



We believe we have sufficient liquidity to meet our liquidity and capital resource requirements primarily through available cash and cash equivalents, restricted cash, cash received under net lease and operating lease agreements, and undrawn capacity under our construction loans. Additional sources of liquidity, if necessary, includes leveraging our unleveraged properties, asset sales, and paying all asset management fees to our Advisor in shares (which effective April 1, 2020, our Advisor elected to receive all of the asset management fees in shares of our Class A common stock). Our Advisor may also provide us with a line of credit at its discretion. Through the date of this Report, we received from tenants substantially all net lease contractual base rent that was due in the first quarter and 84% of net lease contractual base rent that was due in April. In addition, we wrote off $7.0 million in straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels. Given the significant uncertainty around the duration and severity of the impact of COVID-19, we are unable to predict the impact it will have on our tenants’ continued ability to pay rent.

The extent to which COVID-19 impacts our liquidity and debt covenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the outbreak and actions taken to contain COVID-19 or treat its impact, among others. The potential impact of COVID-19 on our tenants and properties could have a material adverse effect on our liquidity and debt covenants. Our liquidity would be adversely affected by unanticipated costs, greater-than-anticipated operating expenses, and the adverse impact of COVID-19.

Off-Balance Sheet Arrangements and Contractual Obligations

The table below summarizes our debt, off-balance sheet arrangements, and other contractual obligations (primarily our capital commitments) as of March 31, 2020 and the effect that these arrangements and obligations are expected to have on our liquidity and cash flow in the specified future periods (in thousands):
 
Total
 
Less than
1 year
 
1-3 years
 
3-5 years
 
More than
5 years
Debt — principal (a)
$
1,188,311

 
$
114,057

 
$
304,422

 
$
512,528

 
$
257,304

Capital commitments (b)
238,001

 
188,888

 
49,113

 
—

 
—

Interest on borrowings
178,129

 
45,285

 
74,913

 
45,198

 
12,733

External joint venture loans, including interest (c)
6,517

 
316

 
633

 
633

 
4,935

Deferred acquisition fees (d)
2,925

 
2,730

 
195

 
—

 
—

 
$
1,613,883

 
$
351,276

 
$
429,276

 
$
558,359

 
$
274,972

__________
(a)
Represents the non-recourse secured debt, net that we obtained in connection with our investments and excludes $6.2 million of deferred financing costs and $1.3 million of unamortized premium, net (Note 9).
(b)
Capital commitments is comprised of estimated construction funding for our current development projects totaling $233.3 million (Note 4), $3.7 million of outstanding commitments on development projects that have been placed into service, and $1.0 million of tenant improvement allowances at certain properties.
(c)
Comprised of loans and related interest from our joint venture partners to the jointly owned investments that we consolidate (Note 3).
(d)
Represents deferred acquisition fees and related interest due to our Advisor as a result of our acquisitions (Note 3). These fees are scheduled to be paid in three equal annual installments following the quarter in which a property was purchased.

Amounts in the table above that relate to our foreign operations are based on the exchange rate of the local currencies as of March 31, 2020, which consisted primarily of the euro and Norwegian krone and, to a lesser extent, the British pound sterling. As of March 31, 2020, we had no material capital lease obligations for which we were the lessee, either individually or in the aggregate.



CPA:18 – Global 3/31/2020 10-Q – 48



Supplemental Financial Measures

In the real estate industry, analysts and investors employ certain non-GAAP supplemental financial measures in order to facilitate meaningful comparisons between periods and among peer companies. Additionally, in the formulation of our goals and in the evaluation of the effectiveness of our strategies, we use FFO, MFFO, and Adjusted MFFO, which are non-GAAP measures. We believe that these measures are useful to investors to consider because they may assist them to better understand and measure the performance of our business over time and against similar companies. A description of FFO, MFFO, and Adjusted MFFO and reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are provided below.

FFO
Due to certain unique operating characteristics of real estate companies, as discussed below, the National Association of Real Estate Investment Trusts, Inc. (“NAREIT”), an industry trade group, has promulgated a non-GAAP measure known as FFO, which we believe to be an appropriate supplemental measure, when used in addition to and in conjunction with results presented in accordance with GAAP, to reflect the operating performance of a REIT. The use of FFO is recommended by the REIT industry as a supplemental non-GAAP measure. FFO is not equivalent to, nor a substitute for, net income or loss as determined under GAAP.

We define FFO, a non-GAAP measure, consistent with the standards established by the White Paper on FFO approved by the Board of Governors of NAREIT, as restated in December 2018. The White Paper defines FFO as net income or loss computed in accordance with GAAP, excluding gains or losses from sales of property, impairment charges on real estate, and depreciation and amortization from real estate assets; and after adjustments for unconsolidated partnerships and jointly owned investments. Adjustments for unconsolidated partnerships and jointly owned investments are calculated to reflect FFO. Our FFO calculation complies with NAREIT’s policy described above. However, NAREIT’s definition of FFO does not distinguish between the conventional method of equity accounting and the hypothetical liquidation at book value method of accounting for unconsolidated partnerships and jointly owned investments.

The historical accounting convention used for real estate assets requires straight-line depreciation of buildings and improvements. We believe that, since real estate values historically rise and fall with market conditions, including inflation, interest rates, the business cycle, unemployment, and consumer spending, presentations of operating results for a REIT using historical accounting for depreciation may be less informative. Historical accounting for real estate involves the use of GAAP. Any other method of accounting for real estate such as the fair value method cannot be construed to be any more accurate or relevant than the comparable methodologies of real estate valuation found in GAAP. Nevertheless, we believe that the use of FFO, which excludes the impact of real estate-related depreciation and amortization, as well as impairment charges of real estate-related assets, provides a more complete understanding of our performance to investors and to management; and when compared year over year, reflects the impact on our operations from trends in occupancy rates, rental rates, operating costs, general and administrative expenses, and interest costs, which may not be immediately apparent from net income. In particular, we believe it is appropriate to disregard impairment charges, as this is a fair value adjustment that is largely based on market fluctuations and assessments regarding general market conditions, which can change over time.

MFFO

Publicly registered, non-traded REITs typically have a significant amount of acquisition activity and are substantially more dynamic during their initial years of investment and operation. While other start-up entities may also experience significant acquisition activity during their initial years, we believe that non-traded REITs are unique in that they have a limited life with targeted exit strategies within a relatively limited time frame after acquisition activity ceases. We currently intend to begin the process of achieving a liquidity event (i.e., listing of our common stock on a national exchange, a merger or sale of our assets, or another similar transaction) beginning in April 2022, which is seven years following the closing of our initial public offering. Due to the above factors and other unique features of publicly registered, non-traded REITs, the Institute for Portfolio Alternatives (the “IPA”), an industry trade group, has standardized a measure known as MFFO, which the IPA has recommended as a supplemental measure for publicly registered non-traded REITs and which we believe to be another appropriate non-GAAP measure to reflect our operations. MFFO is not equivalent to our net income or loss as determined under GAAP and may not be a useful measure of the impact of long-term operating performance on value if we do not continue to operate with a limited life and targeted exit strategy (as currently intended). Since MFFO excludes costs that we consider more reflective of investing activities and other non-operating items included in FFO, we believe that it provides an indication of the sustainability of our operating performance after our initial property-acquisition phase. We believe that MFFO allows investors and analysts to better assess the sustainability of our operating performance now that our initial public offering is


CPA:18 – Global 3/31/2020 10-Q – 49



complete and the proceeds are invested. We also believe that MFFO is a recognized measure of sustainable operating performance by the non-traded REIT industry.

We define MFFO, a non-GAAP measure, consistent with the IPA’s Practice Guideline 2010-01, Supplemental Performance Measure for Publicly Registered, Non-Traded REITs: Modified Funds from Operations (the “Practice Guideline”), issued in November 2010. The Practice Guideline defines MFFO as FFO further adjusted for the following items, included in the determination of GAAP net income, as applicable: acquisition fees and expenses; amounts relating to straight-line rents and amortization of above- and below-market leases and liabilities (which are adjusted in order to reflect such payments from a GAAP basis to a cash accrual basis of disclosing the rent and lease payments); accretion of discounts and amortization of premiums on debt investments; nonrecurring impairments of real estate-related investments (i.e., infrequent or unusual, not reasonably likely to recur in the ordinary course of business); mark-to-market adjustments included in net income; nonrecurring gains or losses included in net income from the extinguishment or sale of debt, foreign exchange, derivatives, or securities holdings where trading of such holdings is not a fundamental attribute of the business plan, and after adjustments for consolidated and unconsolidated partnerships and jointly owned investments, with such adjustments calculated to reflect MFFO on the same basis. The accretion of discounts and amortization of premiums on debt investments, unrealized gains and losses on hedges, foreign exchange, securities holdings, unrealized gains and losses resulting from consolidations, as well as other listed cash flow adjustments, are adjustments made to net income in calculating the cash flows provided by operating activities and, in some cases, reflect gains or losses that are unrealized and may not ultimately be realized.

Our MFFO calculation complies with the IPA’s Practice Guideline described above and is adjusted for certain items, such as accretion of discounts and amortizations of premiums on borrowings (as such adjustments are comparable to the permitted adjustments for debt investments), allowance for credit losses, non-cash accretion of environmental liabilities and amortization of right-of-use assets, which management believes is helpful in assessing our operating performance.

Our management uses MFFO in order to evaluate our performance against other non-traded REITs, which also have limited lives with defined acquisition periods and targeted exit strategies. As noted above, MFFO may not be a useful measure of the impact of long-term operating performance on value if we do not continue to operate in this manner. For example, fair value adjustments, which are based on the impact of current market fluctuations and underlying assessments of general market conditions, but can also result from operational factors such as rental and occupancy rates, may not be directly related or attributable to our current operating performance. By excluding such changes that may reflect anticipated and unrealized gains or losses, we believe MFFO provides useful supplemental information.

Adjusted MFFO

In addition, our management uses Adjusted MFFO as another measure of sustainable operating performance. Adjusted MFFO adjusts MFFO for deferred income tax expenses and benefits, which are non-cash items that may cause short-term fluctuations in net income, but have no impact on current period cash flows. Additionally, we adjust MFFO to reflect the realized gains/losses on the settlement of foreign currency derivatives to arrive at Adjusted MFFO. Foreign currency derivatives are a fundamental part of our operations in that they help us manage the foreign currency exposure we have associated with cash flows from our international investments.

FFO, MFFO, and Adjusted MFFO

Presentation of this information is intended to provide useful information to investors as they compare the operating performance of different REITs, although it should be noted that not all REITs calculate FFO, MFFO, and Adjusted MFFO the same way, so comparisons with other REITs may not be meaningful. Furthermore, FFO, MFFO, and Adjusted MFFO are not necessarily indicative of cash flow available to fund cash needs and should not be considered as an alternative to net income as an indication of our performance, as an alternative to cash flows from operations as an indication of our liquidity, or indicative of funds available to fund our cash needs including our ability to make distributions to our stockholders. FFO, MFFO, and Adjusted MFFO should be reviewed in conjunction with other GAAP measurements as an indication of our performance.

Neither the SEC, NAREIT, nor any other regulatory body has passed judgment on the acceptability of the adjustments that we use to calculate FFO, MFFO, and Adjusted MFFO. In the future, the SEC, NAREIT, or another regulatory body may decide to standardize the allowable adjustments across the non-traded REIT industry and we would have to adjust our calculation and characterization of FFO, MFFO, or Adjusted MFFO accordingly.



CPA:18 – Global 3/31/2020 10-Q – 50



FFO, MFFO, and Adjusted MFFO were as follows (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Net (loss) income attributable to CPA:18 – Global
$
(8,180
)
 
$
14,827

Adjustments:
 
 
 
Depreciation and amortization of real property
14,530

 
15,456

Gain on sale of real estate, net
—

 
(15,408
)
Proportionate share of adjustments for noncontrolling interests to arrive at FFO (a)
(1,534
)
 
1,240

Proportionate share of adjustments to equity in net income of partially owned entities
208

 
313

Total adjustments
13,204

 
1,601

FFO (as defined by NAREIT) attributable to CPA:18 – Global
5,024

 
16,428

Adjustments:
 
 
 
Straight-line and other rent adjustments (b)
6,183

 
(1,047
)
Allowance for credit losses (c)
4,865

 
—

Other (gains) and losses (d) (e)
2,284

 
(17
)
Amortization of premiums and discounts
242

 
374

Above and below market rent intangible lease amortization, net (f)
(175
)
 
(85
)
Other amortization and non-cash items
80

 
—

Proportionate share of adjustments for noncontrolling interests
12

 
23

Proportionate share of adjustments for partially owned entities
5

 
—

Total adjustments
13,496

 
(752
)
MFFO attributable to CPA:18 – Global
18,520

 
15,676

Adjustments:
 
 
 
Tax expense, deferred
(1,364
)
 
(36
)
Hedging gains
485

 
378

Total adjustments
(879
)
 
342

Adjusted MFFO attributable to CPA:18 – Global
$
17,641

 
$
16,018

__________
(a)
The three months ended March 31, 2019 includes a gain on sale with regard to our joint venture real estate disposal.
(b)
Amount for the three months ended March 31, 2020 includes a $7.0 million write-off of straight-line rent receivables (Note 2). Under GAAP, rental receipts are recorded on a straight-line basis over the life of the lease. This may result in timing of income recognition that is significantly different than on an accrual basis.
(c)
In accordance with our adoption of ASU 2016-13 on January 1, 2020, we recorded an allowance for credit loss during the three months ended March 31, 2020 (Note 5).
(d)
Primarily comprised of gains and losses from foreign currency movements, gains and losses on derivatives, and loss on extinguishment of debt. The three months ended March 31, 2020 includes a $2.8 million loss to write-off the VAT receivable at Ghana as collectibility was no longer deemed probable.
(e)
At September 30, 2019, we aggregated loss on extinguishment of debt and realized (gains) and losses on foreign currency (both of which were previously disclosed as separate MFFO adjustment line items), as well as certain other adjustments, within this line item, which is comprised of adjustments related to Other gains and (losses) on our condensed consolidated statements of operations. Prior period amounts have been reclassified to conform to current period presentation.
(f)
Under GAAP, certain intangibles are accounted for at cost and reviewed at least annually for impairment, and certain intangibles are assumed to diminish predictably in value over time and amortized, similar to depreciation and amortization of other real estate related assets that are excluded from FFO. However, because real estate values and market lease rates historically rise or fall with market conditions, management believes that by excluding charges relating to amortization of these intangibles, MFFO, and Adjusted MFFO provides useful supplemental information on the performance of the real estate.



CPA:18 – Global 3/31/2020 10-Q – 51



Item 3. Quantitative and Qualitative Disclosures About Market Risk.

Market and Credit Risk

Market risk is the exposure to loss resulting from changes in interest rates, foreign currency exchange rates, and equity prices. The primary risks that we are exposed to are interest rate risk and foreign currency exchange risk. Generally, we do not use derivative instruments to hedge credit/market risks or for speculative purposes. However, from time to time, we may enter into foreign currency forward contracts and collars to hedge our foreign currency cash flow exposures.

Concentrations of credit risk arise when a number of tenants are engaged in similar business activities or have similar economic risks or conditions that could cause them to default on their lease obligations to us. We regularly monitor our portfolio to assess potential concentrations of credit risk. While we believe our portfolio is well-diversified, it does contain concentrations in certain areas. Aside from the impact of COVID-19, discussed below, there have been no material changes in our concentration of credit risk from what was disclosed in the 2019 Annual Report.

The impact of the COVID-19 pandemic both in the Unites States and globally continues to cause uncertainty and volatility in financial markets, including interest rates and foreign currency exchange rates. The outbreak is expected to have a continued adverse impact on market conditions for the foreseeable future and to trigger a period of global economic slowdown with no known duration. At March 31, 2020, our net-lease portfolio (which excludes operating properties) had the following concentrations for property types with heightened risk as a result of the COVID-19 pandemic, based on the percentage of our ABR as of that date:

•
16.3% related to hotel and leisure properties;
•
5.4% related to retail facilities (primarily from convenience and wholesale stores);
•
4.2% related to oil and gas;
•
3.9% related to advertising, printing, and publishing;
•
2.3% related to automotive; and
•
1.6% related to student housing (net lease) properties;

Our operating properties portfolio had a concentration of 6.0% (based on Stabilized NOI) in student housing properties which has heightened risk due to the impact of the COVID-19 pandemic on the individual students from which we earn student housing revenue.

There may be an impact across all industries and geographic regions in which our tenants operate as a result of COVID-19. Given the significant uncertainty around the duration and severity of COVID-19, we are unable to predict the impact it will have on our tenants’ continued ability to pay rent.

We are also exposed to further market risk as a result of tenant concentrations in certain industries and/or geographic regions, since adverse market factors can affect the ability of tenants in a particular industry/region to meet their respective lease obligations. In order to manage this risk, our Advisor views our collective tenant roster as a portfolio and attempts to diversify such portfolio so that we are not overexposed to a particular industry or geographic region.

Interest Rate Risk
 
The values of our real estate, related fixed-rate debt obligations, and notes receivable investment are subject to fluctuations based on changes in interest rates. The value of our real estate is also subject to fluctuations based on local and regional economic conditions and changes in the creditworthiness of lessees, which may affect our ability to refinance property-level mortgage debt when balloon payments are scheduled (if we do not choose to repay the debt when due). Interest rates are highly sensitive to many factors, including governmental monetary and tax policies, domestic and international economic and political conditions, and other factors beyond our control. An increase in interest rates would likely cause the fair value of our assets to decrease. Increases in interest rates may also have an impact on the credit profile of certain tenants.
 
We are exposed to the impact of interest rate changes primarily through our borrowing activities. To limit this exposure, we have historically attempted to obtain non-recourse secured debt financing on a long-term, fixed-rate basis. However, from time to time, we or our joint investment partners have obtained, and may in the future obtain, variable-rate non-recourse secured debt, and, as a result, we have entered into, and may continue to enter into, interest rate swap agreements or interest rate cap agreements with counterparties. See Note 8 for additional information on our interest rate swaps and caps.



CPA:18 – Global 3/31/2020 10-Q – 52



As of March 31, 2020, a significant portion (approximately 94.1%) of our outstanding debt either bore interest at fixed rates, or was swapped or capped to a fixed rate. Our debt obligations are more fully described in Note 9 and Liquidity and Capital Resources — Summary of Financing in Item 2 above. The following table presents principal cash outflows for the remainder of 2020, each of the next four calendar years following December 31, 2020, and thereafter, based upon expected maturity dates of our debt obligations outstanding as of March 31, 2020 (in thousands):

2020 (Remainder)
 
2021
 
2022
 
2023
 
2024
 
Thereafter
 
Total

Fair value
Fixed-rate debt (a)
$
52,573

 
$
106,792

 
$
98,839

 
$
152,694

 
$
176,101

 
$
340,521


$
927,520


$
927,752

Variable rate debt (a)
$
7,113

 
$
45,187

 
$
90,369

 
$
51,222

 
$
22,234

 
$
44,666


$
260,791


$
268,960

__________
(a)
Amounts are based on the exchange rate as of March 31, 2020, as applicable.

The estimated fair value of our fixed-rate debt and variable-rate debt (which either have effectively been converted to a fixed rate through the use of interest rate swaps) is marginally affected by changes in interest rates. A decrease or increase in interest rates of 1% would change the estimated fair value of this debt as of March 31, 2020 by an aggregate increase of $34.7 million or an aggregate decrease of $39.6 million, respectively. Annual interest expense on our unhedged variable-rate debt as of March 31, 2020 would increase or decrease by $0.7 million for each respective 1% change in annual interest rates.

As more fully described under Liquidity and Capital Resources — Summary of Financing in Item 2 above, a portion of our variable-rate debt in the table above bore interest at fixed rates as of March 31, 2020, but has interest rate reset features that will change the fixed interest rates to then-prevailing market fixed rates at certain points during their term. This debt is generally not subject to short-term fluctuations in interest rates.

Foreign Currency Exchange Rate Risk

We own international investments, primarily in Europe and, as a result, are subject to risk from the effects of exchange rate movements in various foreign currencies, primarily the euro and the Norwegian krone, which may affect future costs and cash flows. Although most of our foreign investments through the first quarter of 2020 were conducted in these currencies, we may conduct business in other currencies in the future. Volatile market conditions arising from the spread of COVID-19 may result in significant fluctuations in foreign currency exchange rates. We manage foreign currency exchange rate movements by generally placing both our debt service obligation to the lender and the tenant’s rental obligation to us in the same currency. This reduces our overall exposure to the actual equity that we have invested and the equity portion of our cash flow. In addition, we may use currency hedging to further reduce the exposure to our equity cash flow. We are generally a net receiver of these currencies (we receive more cash than we pay out), therefore our foreign operations benefit from a weaker U.S. dollar and are adversely affected by a stronger U.S. dollar, relative to the foreign currency.

As noted above, we have obtained, and may in the future obtain, non-recourse secured debt financing in local currencies. To the extent that currency fluctuations increase or decrease rental revenues, as translated to U.S. dollars, the change in debt service, as translated to U.S. dollars, will partially offset the effect of fluctuations in revenue and, to some extent, mitigate the risk from changes in foreign currency exchange rates.

Scheduled future lease payments to be received, exclusive of renewals, under non-cancelable operating leases for our consolidated foreign operations as of March 31, 2020 during the remainder of 2020, each of the next four calendar years following December 31, 2020, and thereafter, are as follows (in thousands): 
Lease Revenues (a) (b) 
 
2020 (Remainder)
 
2021
 
2022
 
2023
 
2024
 
Thereafter
 
Total
Euro (c)
 
$
35,421

 
$
47,322

 
$
45,100

 
$
42,253

 
$
39,163

 
$
327,858

 
$
537,117

Norwegian krone (d)
 
7,649

 
9,683

 
9,338

 
9,338

 
6,702

 
26,589

 
69,299

 
 
$
43,070

 
$
57,005

 
$
54,438

 
$
51,591

 
$
45,865

 
$
354,447

 
$
606,416




CPA:18 – Global 3/31/2020 10-Q – 53



Scheduled debt service payments (principal and interest) for mortgage notes for our foreign operations as of March 31, 2020, during the remainder of 2020, each of the next four calendar years following December 31, 2020, and thereafter, are as follows (in thousands):
Debt Service (a) (e)
 
2020 (Remainder)
 
2021
 
2022
 
2023
 
2024
 
Thereafter
 
Total
Euro (c)
 
$
55,797

 
$
72,247

 
$
49,032

 
$
82,797

 
$
71,257

 
$
11,987

 
$
343,117

Norwegian krone (d)
 
4,893

 
38,970

 
3,394

 
3,394

 
3,394

 
85,575

 
139,620

British pound sterling (b)
 
1,614

 
2,151

 
75,179

 
—

 
—

 
—

 
78,944

 
 
$
62,304

 
$
113,368

 
$
127,605

 
$
86,191

 
$
74,651

 
$
97,562

 
$
561,681

__________
(a)
Amounts are based on the applicable exchange rates as of March 31, 2020. Contractual rents and debt obligations are denominated in the functional currency of the country where each property is located.
(b)
The revenues generated from our student housing operating properties located in the United Kingdom are excluded, as they do not meet the criteria of non-cancelable operating leases. We estimate that, for a 1% increase or decrease in the exchange rate between the British pound sterling and the U.S. dollar, there would be a corresponding change in the projected estimated property-level cash flow as of March 31, 2020 of $0.8 million.
(c)
We estimate that, for a 1% increase or decrease in the exchange rate between the euro and the U.S. dollar, there would be a corresponding change in the projected estimated property-level cash flow as of March 31, 2020 of $1.9 million.
(d)
We estimate that, for a 1% increase or decrease in the exchange rate between the Norwegian krone and the U.S. dollar, there would be a corresponding change in the projected estimated property-level cash flow as of March 31, 2020 of $0.7 million.
(e)
Interest on unhedged variable-rate debt obligations was calculated using the applicable annual interest rates and balances outstanding as of March 31, 2020.



CPA:18 – Global 3/31/2020 10-Q – 54



Item 4. Controls and Procedures.

Disclosure Controls and Procedures

Our disclosure controls and procedures include internal controls and other procedures designed to provide reasonable assurance that information required to be disclosed in this and other reports filed under the Securities Exchange Act of 1934, as amended, (“the Exchange Act”), is recorded, processed, summarized, and reported within the required time periods specified in the SEC’s rules and forms; and that such information is accumulated and communicated to management, including our chief executive officer and chief financial officer, to allow timely decisions regarding required disclosures. It should be noted that no system of controls can provide complete assurance of achieving a company’s objectives and that future events may impact the effectiveness of a system of controls.

Our chief executive officer and chief financial officer, after conducting an evaluation, together with members of our management, of the effectiveness of the design and operation of our disclosure controls and procedures as of March 31, 2020, have concluded that our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) were effective as of March 31, 2020 at a reasonable level of assurance.

Changes in Internal Control Over Financial Reporting
 
There have been no changes in our internal control over financial reporting during our most recently completed fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.



CPA:18 – Global 3/31/2020 10-Q – 55



PART II — OTHER INFORMATION

Item 1A. Risk Factors.

We are including the following additional risk factor, which should be read in conjunction with our description of risk factors provided in Part I, Item 1A. Risk Factors in our 2019 Annual Report.

We face risks related to the recent spread of the novel coronavirus (“COVID-19”), which could have a material adverse impact on our business, financial condition, NAVs, liquidity, results of operations, and prospects.

We face risks related to the global spread of COVID-19, which has been declared to be a pandemic by the World Health Organization. Risks related to COVID-19 have begun (and may continue) to adversely affect global, national, and local economies and the global financial markets, including the global debt and equity capital markets, which have begun (and are likely to continue) to experience significant volatility, leading to an economic downturn and record unemployment levels that could adversely affect our and has adversely affected our tenants’ respective businesses, financial condition, liquidity, results of operations, and prospects, as well as our NAVs. We can give no assurance that we will be able to maintain dividend levels or continue our redemption program.

We are closely monitoring the impact of COVID-19 on all aspects of our business, including how it will impact our tenants and properties. Our Advisor continues to actively engage in discussions with our tenants and with the third-party managers of our operating properties regarding the impact of COVID-19 on their business operations, liquidity, ability to pay rent and other payments due to us and other parties, and their financial position. Given the significant uncertainty around the duration and severity of the impact of COVID-19, we are unable to predict the impact it will have on our tenants’ continued ability to pay rent. Therefore, information provided regarding historical rent collections should not serve as an indication of expected future rent collections.

It is likely that the COVID-19 pandemic will continue to cause severe economic, market, and other disruptions worldwide. We cannot assure you that conditions in the bank lending and other financial markets will not continue to deteriorate as a result of the pandemic, or that our access to sources of funding and ability to meet our financial covenants will not become constrained, which could adversely affect the availability and terms of future borrowings, renewals, or refinancings. In addition, the deterioration of global economic conditions as a result of the pandemic is likely to negatively impact our tenants.

The extent to which COVID-19 impacts our operations will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the outbreak and actions taken to contain COVID-19 or treat its impact, among others. The potential impact of COVID-19 on our tenants and properties could have a material adverse effect on our business, financial condition (including our ability to maintain dividends and redemption program), NAVs, liquidity, results of operations, and prospects.




CPA:18 – Global 3/31/2020 10-Q – 56



Item 2. Unregistered Sales of Equity Securities.

Unregistered Sales of Equity Securities

During the three months ended March 31, 2020, we issued 169,045 shares of our Class A common stock to our Advisor as consideration for asset management fees, which were issued at our most recently published NAV at the date of issuance. The shares issued for January and February 2020 (110,843 shares) were based on the NAV as of September 30, 2019 ($8.67), and the shares issued in March 2020 (58,202 shares) were based on the NAV as of December 31, 2019 ($8.94). In acquiring our shares, our Advisor represented that such interests were being acquired by it for investment purposes and not with a view to the distribution thereof. Since none of these transactions were considered to have involved a “public offering” within the meaning of Section 4(a)(2) of the Securities Act of 1933, the shares issued were deemed to be exempt from registration.

All other prior sales of unregistered securities have been reported in our previously filed quarterly and annual reports on Form 10-Q and Form 10-K, respectively.

Issuer Purchases of Equity Securities

The following table provides information with respect to repurchases of our common stock pursuant to our redemption plan during the three months ended March 31, 2020:
 
 
Class A
 
Class C
 
 
 
 
2020 Period
 
Total number of Class A
shares purchased (a)
 
Average price
paid per share
 
Total number of Class C
shares purchased (a)
 
Average price
paid per share
 
Total number of shares
purchased as part of
publicly announced plans or program (a)
 
Maximum number (or
approximate dollar value)of shares that may yet be
purchased under the plans or program (a)
January 1-31
 
—

 
$
—

 
—

 
$
—

 
N/A
 
N/A
February 1-29
 
—

 
—

 
—

 
—

 
N/A
 
N/A
March 1-31
 
682,991

 
8.58

 
264,268

 
8.58

 
N/A
 
N/A
Total
 
682,991

 
 
 
264,268

 
 
 
 
 
 
___________
(a)
Represents shares of our Class A and Class C common stock requested to be repurchased under our redemption plan, pursuant to which we may elect to redeem shares at the request of our stockholders, subject to certain exceptions, conditions, and limitations. The maximum amount of shares purchasable by us in any period depends on a number of factors and is at the discretion of our board of directors. During the three months ended March 31, 2020, we received 138 and 57 redemption requests for Class A and Class C common stock, respectively. As of the date of this Report, we have fulfilled all of the valid redemption requests that we received during the three months ended March 31, 2020. We generally receive fees in connection with share redemptions. The average price paid per share will vary depending on the number of redemption requests that were made during the period, the number of redemption requests that qualify for special circumstances, and the most recently published quarterly NAV. For shares redeemed under such special circumstances, the redemption price was the greater of the price paid to acquire the shares from us or 95% of our most recently published NAVs.



CPA:18 – Global 3/31/2020 10-Q – 57



Item 6. Exhibits.

The following exhibits are filed with this Report. Documents other than those designated as being filed herewith are incorporated herein by reference.
Exhibit No.
 
Description
 
Method of Filing
10.1
 
Second Amendment to Amended and Restated Advisory Agreement, dated as of May 11, 2020, among Corporate Property Associates 18 – Global Incorporated, CPA:18 Limited Partnership and Carey Asset Management Corp
 
Filed herewith
 
 
 
 
 
31.1
 
Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
 
Filed herewith
 
 
 
 
 
31.2
 
Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
 
Filed herewith
 
 
 
 
 
32
 
Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
 
Filed herewith
 
 
 
 
 
101.INS
 
XBRL Instance Document
 
Filed herewith
 
 
 
 
 
101.SCH
 
XBRL Taxonomy Extension Schema Document
 
Filed herewith
 
 
 
 
 
101.CAL
 
XBRL Taxonomy Extension Calculation Linkbase Document
 
Filed herewith
 
 
 
 
 
101.DEF
 
XBRL Taxonomy Extension Definition Linkbase Document
 
Filed herewith
 
 
 
 
 
101.LAB
 
XBRL Taxonomy Extension Label Linkbase Document
 
Filed herewith
 
 
 
 
 
101.PRE
 
XBRL Taxonomy Extension Presentation Linkbase Document
 
Filed herewith



CPA:18 – Global 3/31/2020 10-Q – 58

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
 
 
Corporate Property Associates 18 – Global Incorporated
Date:
May 12, 2020
 
 
 
 
By:
/s/ ToniAnn Sanzone
 
 
 
ToniAnn Sanzone
 
 
 
Chief Financial Officer
 
 
 
(Principal Financial Officer)
 
 
 
 
Date:
May 12, 2020
 
 
 
 
By:
/s/ Arjun Mahalingam
 
 
 
Arjun Mahalingam
 
 
 
Chief Accounting Officer
 
 
 
(Principal Accounting Officer)



CPA:18 – Global 3/31/2020 10-Q – 59

EXHIBIT INDEX

The following exhibits are filed with this Report. Documents other than those designated as being filed herewith are incorporated herein by reference.
Exhibit No.
 
Description
 
Method of Filing
10.1
 
Second Amendment to Amended and Restated Advisory Agreement, dated as of May 11, 2020, among Corporate Property Associates 18 – Global Incorporated, CPA:18 Limited Partnership and Carey Asset Management Corp
 
 
 
 
 
 
31.1
 
Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
 
 
 
 
 
 
31.2
 
Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
 
 
 
 
 
 
32
 
Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
 
 
 
 
 
 
101.INS
 
XBRL Instance Document
 
Filed herewith
 
 
 
 
 
101.SCH
 
XBRL Taxonomy Extension Schema Document
 
Filed herewith
 
 
 
 
 
101.CAL
 
XBRL Taxonomy Extension Calculation Linkbase Document
 
Filed herewith
 
 
 
 
 
101.DEF
 
XBRL Taxonomy Extension Definition Linkbase Document
 
Filed herewith
 
 
 
 
 
101.LAB
 
XBRL Taxonomy Extension Label Linkbase Document
 
Filed herewith
 
 
 
 
 
101.PRE
 
XBRL Taxonomy Extension Presentation Linkbase Document
 
Filed herewith


 EX-10.1 2 cpa182020q110-qexh101.htm EXHIBIT 10.1 Exhibit

Exhibit 10.1

SECOND AMENDMENT TO AMENDED AND RESTATED ADVISORY AGREEMENT
THIS SECOND AMENDMENT TO THE AMENDED AND RESTATED ADVISORY AGREEMENT (this “Amendment”) dated as of May 11, 2020, is among CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED, a Maryland corporation (“CPA:18”), CPA: 18 LIMITED PARTNERSHIP, a Delaware limited partnership of which CPA 18 is the general partner (the “Operating Partnership”), and CAREY ASSET MANAGEMENT CORP., a Delaware corporate and wholly-owned subsidiary of W. P. Carey Inc. (the “Advisor”).
W I T N E S S E T H:
WHEREAS, CPA:18, the Operating Partnership and the Advisor have entered into that certain Amended and Restated Advisory Agreement, dated as of January 1, 2015 and the First Amendment to the Amended and Restated Advisory Agreement, dated as of January 30, 2018 (as amended, modified or supplemented, the “Agreement”); and
WHEREAS, CPA:18, the Operating Partnership and the Advisor have agreed to amend the Agreement in accordance with the terms and conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual promises herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.
Definitions. All capitalized terms used but not defined herein shall have the meanings set forth in the Agreement.
2.
Disposition Fees. The following Subsection 9(f)(iii) is hereby added to Section 9:
“Notwithstanding the foregoing, the Advisor shall waive Disposition Fees with respect to sales or other dispositions, directly or indirectly, of Investments, including sales and dispositions of single Investments and portfolios of Investments; provided, however, that the foregoing waiver shall not apply to sales and dispositions of all or substantially all of the Investments of CPA: 18, directly or indirectly, in one or a series of related transactions, including by way of a merger, a transfer of the majority of the voting interests of CPA:18 and/or a liquidation of CPA: 18.”
3.
Expenses.
Subsection 10(a)(xvi) is hereby superseded in its entirety by the following:
“(xvi) all other expenses the Advisor incurs in connection with providing services to CPA:18, including reimbursement to the Advisor or its Affiliates for the cost of rent, goods, materials and personnel incurred by them based upon the compensation of the Persons involved and an appropriate share of overhead allocable to those Persons; for purposes of this section rent shall exclude rent for the Advisor’s new office headquarters until the expiration of the Advisor’s lease for its existing headquarters and expenses related to the office headquarters relocation.”
a.Subsection 10(b) is hereby superseded in its entirety by the following:
Expenses described in clause (xvi) of Section 10(a) and any other expenses described in Section 10(a) that are shared expenses of CPA: 18, other entities managed by the Advisor and its Affiliates and W. P. Carey Inc. and its Affiliates (for their own account), except for those related to overhead, shall be allocated among such entities based upon the percentage that CPA: 18’s total revenues for the most recently completed four fiscal quarters represent of the combined total revenues for such period of CPA: 18, W. P. Carey Inc. and each REIT or other entity managed by the Advisor and its Affiliates (provided that if any such entity has not been in operation for the full four quarter period, the period for which such entity has been in operation shall be annualized), or such other methodology as may be approved by the Board (including a majority of the Independent Directors). No reimbursement shall


be made for the cost of personnel to the extent that such personnel are used in transactions for which the Advisor receives a separate fee. Expenses described in clause (xvi) of Section 10(a) and any other expenses described in Section 10(a) related to overhead shall be allocated to CPA:18 beginning January 1, 2020 based upon the percentage the Advisor’s full-time employee equivalents attributable to CPA:18 comprise of Advisor’s total full-time employee equivalents, weighted on a cash compensation basis (the “FTE Equivalent Calculation”), such FTE Equivalent Calculation to be reviewed annually by CPA:18 and the Advisor.”
4.
No Further Modification. Except as modified hereby, the Agreement shall remain in full force and effect, and as modified hereby, the Agreement is ratified and confirmed in all respects.
5.
Representations and Warranties. CPA:18, the Operating Partnership and the Advisor each hereby represent and warrant that it has full right, power and authority to enter into this Amendment and that the person executing this Amendment on behalf of CPA:18, the Operating Partnership and the Advisor, respectively, is duly authorized to do so.
6.
Counterparts; Electronic Signatures. This Amendment may be executed in one or more counterparts, each of which shall constitute an original and all of which when taken together shall constitute one and the same instrument. An executed facsimile or .pdf of this Amendment may be relied upon as having, and shall be deemed to have, the same force and effect as an original.
7.
Governing Law. This Amendment shall be governed by the laws of the State of New York, without giving effect to any principles regarding conflict of laws.


[The remainder of this page is intentionally left blank]





IN WITNESS WHEREOF, the parties hereto have executed this First Amendment to the Amended and Restated Advisory Agreement as of the day and year first above written.
CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED
 
 
By:
/s/ ToniAnn Sanzone
 
Name: ToniAnn Sanzone
 
Title: Chief Financial Officer
 
 
 
 
 
 
CPA: 18 LIMITED PARTNERSHIP
 
 
By: CORPORATE PROPERTY ASSOCIATES 18 – GLOBAL INCORPORATED, its general partner
 
 
By:
/s/ ToniAnn Sanzone
 
Name: ToniAnn Sanzone
 
Title: Chief Financial Officer
 
 
 
 
 
 
CAREY ASSET MANAGEMENT CORP.
 
 
By:
/s/ Jason E. Fox
 
Name: Jason E. Fox
 
Title: Managing Director and Chief Executive Officer


 EX-31.1 3 cpa182020q110-qexh311.htm EXHIBIT 31.1 Exhibit


Exhibit 31.1

Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Jason E. Fox, certify that:

1.
I have reviewed this Quarterly Report on Form 10-Q of Corporate Property Associates 18 – Global Incorporated;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an Annual Report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: May 12, 2020

/s/ Jason E. Fox    
Jason E. Fox
Chief Executive Officer



EX-31.2 4 cpa182020q110-qexh312.htm EXHIBIT 31.2 Exhibit


Exhibit 31.2

Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, ToniAnn Sanzone, certify that:

1.
I have reviewed this Quarterly Report on Form 10-Q of Corporate Property Associates 18 – Global Incorporated;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.
The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
(a)
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an Annual Report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.
The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a)
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: May 12, 2020

/s/ ToniAnn Sanzone    
ToniAnn Sanzone
Chief Financial Officer



 EX-32 5 cpa182020q110-qexh32.htm EXHIBIT 32 Exhibit


Exhibit 32

Certifications Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report of Corporate Property Associates 18 – Global Incorporated on Form 10-Q for the period ended March 31, 2020 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned officers of Corporate Property Associates 18 – Global Incorporated, does hereby certify, to the best of such officer’s knowledge and belief, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1.
The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.
The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Corporate Property Associates 18 – Global Incorporated.

Date: May 12, 2020

/s/ Jason E. Fox    
Jason E. Fox
Chief Executive Officer

Date: May 12, 2020

/s/ ToniAnn Sanzone    
ToniAnn Sanzone
Chief Financial Officer

The certification set forth above is being furnished as an exhibit solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and is not being filed as part of the Report as a separate disclosure document of Corporate Property Associates 18 – Global Incorporated or the certifying officers.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Corporate Property Associates 18 – Global Incorporated and will be retained by Corporate Property Associates 18 – Global Incorporated and furnished to the Securities and Exchange Commission or its staff upon request.



EX-101.INS 6 cpa18-20200331.xml XBRL INSTANCE DOCUMENT 0001558235 2020-01-01 2020-03-31 0001558235 us-gaap:CommonClassCMember 2020-05-08 0001558235 us-gaap:CommonClassAMember 2020-05-08 0001558235 2020-03-31 0001558235 2019-12-31 0001558235 us-gaap:CommonClassAMember 2020-03-31 0001558235 us-gaap:CommonClassCMember 2019-12-31 0001558235 us-gaap:CommonClassAMember 2019-12-31 0001558235 us-gaap:CommonClassCMember 2020-03-31 0001558235 2019-01-01 2019-03-31 0001558235 us-gaap:CommonClassCMember 2019-01-01 2019-03-31 0001558235 us-gaap:CommonClassAMember 2019-01-01 2019-03-31 0001558235 us-gaap:CommonClassCMember 2020-01-01 2020-03-31 0001558235 us-gaap:CommonClassAMember 2020-01-01 2020-03-31 0001558235 us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember 2018-12-31 0001558235 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0001558235 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2018-12-31 0001558235 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2020-03-31 0001558235 us-gaap:CommonClassCMember us-gaap:CommonStockMember 2020-01-01 2020-03-31 0001558235 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2020-01-01 2020-03-31 0001558235 us-gaap:CommonClassCMember us-gaap:CommonStockMember 2019-01-01 2019-03-31 0001558235 us-gaap:CommonClassCMember us-gaap:CommonStockMember 2019-12-31 0001558235 us-gaap:NoncontrollingInterestMember 2020-01-01 2020-03-31 0001558235 us-gaap:NoncontrollingInterestMember 2019-12-31 0001558235 cpa18:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:AccountingStandardsUpdate201602Member 2018-12-31 0001558235 us-gaap:NoncontrollingInterestMember 2018-12-31 0001558235 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-12-31 0001558235 us-gaap:ParentMember 2020-01-01 2020-03-31 0001558235 us-gaap:ParentMember 2020-03-31 0001558235 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-01-01 2019-03-31 0001558235 us-gaap:ParentMember 2019-01-01 2019-03-31 0001558235 2019-03-31 0001558235 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0001558235 us-gaap:CommonClassCMember us-gaap:CommonStockMember 2018-12-31 0001558235 us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember 2019-12-31 0001558235 us-gaap:ParentMember 2018-12-31 0001558235 us-gaap:AdditionalPaidInCapitalMember 2020-01-01 2020-03-31 0001558235 cpa18:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:AccountingStandardsUpdate201602Member us-gaap:ParentMember 2018-12-31 0001558235 us-gaap:NoncontrollingInterestMember 2019-03-31 0001558235 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001558235 us-gaap:AdditionalPaidInCapitalMember 2020-03-31 0001558235 us-gaap:NoncontrollingInterestMember 2020-03-31 0001558235 us-gaap:ParentMember 2019-03-31 0001558235 cpa18:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:AccountingStandardsUpdate201613Member 2019-12-31 0001558235 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001558235 us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember 2019-03-31 0001558235 us-gaap:NoncontrollingInterestMember 2019-01-01 2019-03-31 0001558235 us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember 2019-01-01 2019-03-31 0001558235 cpa18:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:AccountingStandardsUpdate201613Member us-gaap:ParentMember 2019-12-31 0001558235 us-gaap:CommonClassCMember us-gaap:CommonStockMember 2019-03-31 0001558235 cpa18:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:AccountingStandardsUpdate201613Member us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember 2019-12-31 0001558235 us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember 2020-01-01 2020-03-31 0001558235 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001558235 us-gaap:CommonClassCMember us-gaap:CommonStockMember 2020-03-31 0001558235 2018-12-31 0001558235 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001558235 us-gaap:CommonClassAMember us-gaap:CommonStockMember 2019-03-31 0001558235 us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember 2020-03-31 0001558235 us-gaap:AdditionalPaidInCapitalMember 2019-12-31 0001558235 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001558235 us-gaap:ParentMember 2019-12-31 0001558235 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001558235 cpa18:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:AccountingStandardsUpdate201602Member us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember 2018-12-31 0001558235 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001558235 cpa18:SelfStorageMember cpa18:OperatingRealEstateMember 2020-03-31 0001558235 us-gaap:CommonClassCMember 2012-01-01 2020-03-31 0001558235 cpa18:OperatingRealEstateMember 2020-03-31 0001558235 2012-01-01 2015-04-02 0001558235 us-gaap:CommonClassAMember 2012-01-01 2020-03-31 0001558235 srt:MultifamilyMember cpa18:TwelveStudentHousingDevelopmentsMember cpa18:OperatingRealEstateMember 2020-03-31 0001558235 srt:MultifamilyMember cpa18:ThreeStudentHousingOperatingPropertiesMember cpa18:OperatingRealEstateMember 2020-03-31 0001558235 currency:GBP 2020-01-01 2020-03-31 0001558235 currency:EUR 2020-01-01 2020-03-31 0001558235 currency:GBP 2019-12-31 0001558235 currency:EUR 2019-12-31 0001558235 currency:EUR 2020-03-31 0001558235 currency:GBP 2020-03-31 0001558235 currency:NOK 2019-12-31 0001558235 currency:NOK 2020-01-01 2020-03-31 0001558235 currency:NOK 2020-03-31 0001558235 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2020-03-31 0001558235 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2019-12-31 0001558235 us-gaap:EquityMethodInvestmentsMember 2019-12-31 0001558235 us-gaap:EquityMethodInvestmentsMember 2020-03-31 0001558235 cpa18:LeaseRevenueNetLeasedMember 2020-01-01 2020-03-31 0001558235 cpa18:CumulativeEffectPeriodofAdoptionAdjustmentMember 2020-01-01 0001558235 srt:MaximumMember 2020-01-01 2020-03-31 0001558235 2019-01-01 0001558235 cpa18:CurrentMember 2020-01-01 2020-03-31 0001558235 cpa18:DeferredMember 2020-01-01 2020-03-31 0001558235 srt:MinimumMember 2020-03-31 0001558235 cpa18:AverageEquityValueOfInvestmentMember srt:MaximumMember 2020-01-01 2020-03-31 0001558235 us-gaap:CommonClassAMember 2019-01-01 0001558235 cpa18:ContractSalesPriceOfInvestmentMember 2020-01-01 2020-03-31 0001558235 cpa18:AdvisorMember srt:AffiliatedEntityMember us-gaap:CommonClassAMember 2020-01-01 2020-03-31 0001558235 cpa18:AverageInvestedAssetsMember 2020-01-01 2020-03-31 0001558235 cpa18:DeferredMember 2020-03-31 0001558235 cpa18:AverageMarketValueOfInvestmentMember srt:MinimumMember 2020-01-01 2020-03-31 0001558235 cpa18:AdvisorMember srt:AffiliatedEntityMember us-gaap:CommonClassAMember 2020-03-31 0001558235 srt:MaximumMember 2020-03-31 0001558235 cpa18:RealEstateCommissionMember 2020-01-01 2020-03-31 0001558235 cpa18:AdjustedNetIncomeMember 2020-01-01 2020-03-31 0001558235 cpa18:W.P.CareyMember srt:AffiliatedEntityMember 2019-12-31 0001558235 us-gaap:RealEstateMember 2020-03-31 0001558235 us-gaap:RealEstateMember 2019-12-31 0001558235 cpa18:LeaseRevenueOperatingRealEstateMember 2019-01-01 2019-03-31 0001558235 cpa18:LeaseRevenueNetLeasedMember 2019-01-01 2019-03-31 0001558235 cpa18:LeaseRevenueOperatingRealEstateMember 2020-01-01 2020-03-31 0001558235 cpa18:NewBuildToSuitProjectsMember 2020-03-31 0001558235 cpa18:OperatingRealEstateMember 2020-01-01 2020-03-31 0001558235 us-gaap:RealEstateMember 2019-01-01 2019-03-31 0001558235 us-gaap:RealEstateMember 2020-01-01 2020-03-31 0001558235 us-gaap:EquityMethodInvestmentsMember cpa18:SelfStorageMember 2020-03-31 0001558235 cpa18:NewBuildToSuitProjectsMember 2020-01-01 2020-03-31 0001558235 cpa18:NoncashMember 2020-03-31 0001558235 us-gaap:EquityMethodInvestmentsMember cpa18:SelfStorageMember 2019-04-15 0001558235 cpa18:OperatingRealEstateMember 2019-12-31 0001558235 cpa18:OperatingRealEstateMember 2019-01-01 2019-03-31 0001558235 cpa18:CiprianiMember 2020-01-01 2020-03-31 0001558235 cpa18:CiprianiMember 2020-03-31 0001558235 cpa18:CiprianiMember 2019-01-01 2019-03-31 0001558235 cpa18:ThirdPartyMember cpa18:CiprianiMember 2020-03-31 0001558235 cpa18:InternallyAssignedGrade5Member 2020-03-31 0001558235 cpa18:InternallyAssignedGrade5Member 2019-12-31 0001558235 cpa18:InternallyAssignedGrade4Member 2019-12-31 0001558235 cpa18:InternallyAssignedGrade1thru3Member 2019-12-31 0001558235 cpa18:InternallyAssignedGrade1thru3Member 2020-03-31 0001558235 cpa18:InternallyAssignedGrade4Member 2020-03-31 0001558235 cpa18:CiprianiMember 2019-12-31 0001558235 cpa18:BelowMarketRentMember 2020-03-31 0001558235 us-gaap:LeasesAcquiredInPlaceMember 2020-03-31 0001558235 us-gaap:LeasesAcquiredInPlaceMember 2019-12-31 0001558235 us-gaap:AboveMarketLeasesMember 2019-12-31 0001558235 us-gaap:AboveMarketLeasesMember 2020-03-31 0001558235 cpa18:BelowMarketRentMember 2019-12-31 0001558235 srt:MaximumMember us-gaap:AboveMarketLeasesMember 2020-01-01 2020-03-31 0001558235 srt:MinimumMember us-gaap:LeasesAcquiredInPlaceMember 2020-01-01 2020-03-31 0001558235 cpa18:BelowMarketRentMember srt:MinimumMember 2020-01-01 2020-03-31 0001558235 cpa18:BelowMarketRentMember srt:MaximumMember 2020-01-01 2020-03-31 0001558235 srt:MinimumMember us-gaap:AboveMarketLeasesMember 2020-01-01 2020-03-31 0001558235 srt:MaximumMember us-gaap:LeasesAcquiredInPlaceMember 2020-01-01 2020-03-31 0001558235 us-gaap:FairValueInputsLevel3Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-03-31 0001558235 us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2020-03-31 0001558235 us-gaap:FairValueInputsLevel3Member us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-12-31 0001558235 us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-12-31 0001558235 us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember us-gaap:InterestExpenseMember 2020-01-01 2020-03-31 0001558235 cpa18:ForeignCurrencyCollarsMember us-gaap:NondesignatedMember us-gaap:OtherOperatingIncomeExpenseMember 2019-01-01 2019-03-31 0001558235 cpa18:ForeignCurrencyCollarsMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherOperatingIncomeExpenseMember 2019-01-01 2019-03-31 0001558235 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestExpenseMember 2019-01-01 2019-03-31 0001558235 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:OtherOperatingIncomeExpenseMember 2020-01-01 2020-03-31 0001558235 us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:InterestExpenseMember 2020-01-01 2020-03-31 0001558235 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:OtherOperatingIncomeExpenseMember 2019-01-01 2019-03-31 0001558235 us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember us-gaap:InterestExpenseMember 2019-01-01 2019-03-31 0001558235 cpa18:ForeignCurrencyCollarsMember us-gaap:NondesignatedMember us-gaap:OtherOperatingIncomeExpenseMember 2020-01-01 2020-03-31 0001558235 cpa18:ForeignCurrencyCollarsMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:OtherOperatingIncomeExpenseMember 2020-01-01 2020-03-31 0001558235 us-gaap:InterestExpenseMember 2020-01-01 2020-03-31 0001558235 us-gaap:OtherOperatingIncomeExpenseMember 2020-01-01 2020-03-31 0001558235 us-gaap:IndividualMember 2020-03-31 0001558235 currency:GBP us-gaap:InterestRateCapMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 currency:EUR us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember 2020-03-31 0001558235 currency:EUR us-gaap:InterestRateCapMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 currency:USD us-gaap:InterestRateCapMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 currency:USD us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 us-gaap:InterestRateSwapMember us-gaap:CashFlowHedgingMember us-gaap:InterestExpenseMember 2020-01-01 2020-03-31 0001558235 us-gaap:InterestRateCapMember us-gaap:CashFlowHedgingMember us-gaap:InterestExpenseMember 2020-01-01 2020-03-31 0001558235 us-gaap:CashFlowHedgingMember 2019-01-01 2019-03-31 0001558235 cpa18:ForeignCurrencyCollarsMember us-gaap:CashFlowHedgingMember us-gaap:OtherOperatingIncomeExpenseMember 2020-01-01 2020-03-31 0001558235 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:OtherOperatingIncomeExpenseMember 2020-01-01 2020-03-31 0001558235 us-gaap:CashFlowHedgingMember 2020-01-01 2020-03-31 0001558235 us-gaap:InterestRateCapMember us-gaap:CashFlowHedgingMember us-gaap:InterestExpenseMember 2019-01-01 2019-03-31 0001558235 cpa18:ForeignCurrencyCollarsMember us-gaap:CashFlowHedgingMember us-gaap:OtherOperatingIncomeExpenseMember 2019-01-01 2019-03-31 0001558235 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember us-gaap:OtherOperatingIncomeExpenseMember 2019-01-01 2019-03-31 0001558235 us-gaap:InterestRateSwapMember us-gaap:CashFlowHedgingMember us-gaap:InterestExpenseMember 2019-01-01 2019-03-31 0001558235 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember 2019-01-01 2019-03-31 0001558235 cpa18:ForeignCurrencyCollarsMember us-gaap:CashFlowHedgingMember 2020-01-01 2020-03-31 0001558235 us-gaap:InterestRateCapMember us-gaap:CashFlowHedgingMember 2019-01-01 2019-03-31 0001558235 us-gaap:InterestRateSwapMember us-gaap:CashFlowHedgingMember 2019-01-01 2019-03-31 0001558235 us-gaap:InterestRateCapMember us-gaap:CashFlowHedgingMember 2020-01-01 2020-03-31 0001558235 cpa18:ForeignCurrencyCollarsMember us-gaap:CashFlowHedgingMember 2019-01-01 2019-03-31 0001558235 cpa18:ForeignCurrencyCollarsMember us-gaap:NetInvestmentHedgingMember 2019-01-01 2019-03-31 0001558235 us-gaap:InterestRateSwapMember us-gaap:CashFlowHedgingMember 2020-01-01 2020-03-31 0001558235 us-gaap:ForeignExchangeContractMember us-gaap:CashFlowHedgingMember 2020-01-01 2020-03-31 0001558235 cpa18:ForeignCurrencyCollarsMember us-gaap:NetInvestmentHedgingMember 2020-01-01 2020-03-31 0001558235 currency:EUR us-gaap:ForeignExchangeForwardMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 currency:EUR cpa18:ForeignCurrencyCollarsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 currency:NOK cpa18:ForeignCurrencyCollarsMember us-gaap:NetInvestmentHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 currency:NOK cpa18:ForeignCurrencyCollarsMember us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember 2019-12-31 0001558235 us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 cpa18:AccountsReceivableandOtherAssetsnetMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0001558235 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0001558235 us-gaap:NondesignatedMember 2020-03-31 0001558235 us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0001558235 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:NondesignatedMember 2020-03-31 0001558235 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 us-gaap:NondesignatedMember 2019-12-31 0001558235 cpa18:AccountsReceivableandOtherAssetsnetMember cpa18:ForeignCurrencyCollarsMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 cpa18:AccountsReceivableandOtherAssetsnetMember us-gaap:InterestRateCapMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 cpa18:AccountsReceivableandOtherAssetsnetMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0001558235 cpa18:AccountsReceivableandOtherAssetsnetMember cpa18:ForeignCurrencyCollarsMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0001558235 cpa18:AccountsReceivableandOtherAssetsnetMember us-gaap:InterestRateSwapMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 cpa18:AccountsReceivableandOtherAssetsnetMember us-gaap:InterestRateCapMember us-gaap:DesignatedAsHedgingInstrumentMember 2019-12-31 0001558235 cpa18:AccountsReceivableandOtherAssetsnetMember us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember 2020-03-31 0001558235 cpa18:StudentHousinginBarcelonaSpainMember us-gaap:ConstructionLoansMember 2020-03-31 0001558235 cpa18:FixedInterestRateMember 2020-01-01 2020-03-31 0001558235 cpa18:VariableInterestRateMember 2020-01-01 2020-03-31 0001558235 us-gaap:LongTermDebtMember 2020-01-01 2020-03-31 0001558235 cpa18:StudentHousinginBarcelonaSpainMember us-gaap:ConstructionLoansMember 2020-03-13 0001558235 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2020-01-01 2020-03-31 0001558235 us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2020-01-01 2020-03-31 0001558235 us-gaap:AociAttributableToNoncontrollingInterestMember 2020-01-01 2020-03-31 0001558235 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2020-01-01 2020-03-31 0001558235 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2020-01-01 2020-03-31 0001558235 us-gaap:AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember 2020-01-01 2020-03-31 0001558235 us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember 2020-01-01 2020-03-31 0001558235 us-gaap:AccumulatedTranslationAdjustmentMember 2020-03-31 0001558235 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-12-31 0001558235 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2020-03-31 0001558235 us-gaap:AccumulatedTranslationAdjustmentMember 2019-12-31 0001558235 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember 2020-01-01 2020-03-31 0001558235 us-gaap:AccumulatedGainLossNetCashFlowHedgeNoncontrollingInterestMember 2020-01-01 2020-03-31 0001558235 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2019-01-01 2019-03-31 0001558235 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember 2019-01-01 2019-03-31 0001558235 us-gaap:AccumulatedTranslationAdjustmentMember 2019-03-31 0001558235 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2019-01-01 2019-03-31 0001558235 us-gaap:AccumulatedGainLossNetCashFlowHedgeNoncontrollingInterestMember 2019-01-01 2019-03-31 0001558235 us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember 2019-01-01 2019-03-31 0001558235 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-03-31 0001558235 us-gaap:AociAttributableToNoncontrollingInterestMember 2019-01-01 2019-03-31 0001558235 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-12-31 0001558235 us-gaap:AccumulatedForeignCurrencyAdjustmentIncludingPortionAttributableToNoncontrollingInterestMember 2019-01-01 2019-03-31 0001558235 us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0001558235 us-gaap:AccumulatedGainLossCashFlowHedgeIncludingNoncontrollingInterestMember 2019-01-01 2019-03-31 0001558235 us-gaap:AccumulatedForeignCurrencyAdjustmentAttributableToNoncontrollingInterestMember 2019-01-01 2019-03-31 0001558235 us-gaap:MaterialReconcilingItemsMember 2020-03-31 0001558235 us-gaap:CorporateNonSegmentMember 2019-12-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:OtherOperatingPropertiesMember 2020-03-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:NetLeaseSegmentMember 2019-12-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:NetLeaseSegmentMember 2020-03-31 0001558235 us-gaap:CorporateNonSegmentMember 2020-03-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:SelfStorageMember 2019-12-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:OtherOperatingPropertiesMember 2019-12-31 0001558235 us-gaap:MaterialReconcilingItemsMember 2019-12-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:SelfStorageMember 2020-03-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:OtherOperatingPropertiesMember 2020-01-01 2020-03-31 0001558235 us-gaap:MaterialReconcilingItemsMember 2020-01-01 2020-03-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:NetLeaseSegmentMember 2019-01-01 2019-03-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:NetLeaseSegmentMember 2020-01-01 2020-03-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:OtherOperatingPropertiesMember 2019-01-01 2019-03-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:SelfStorageMember 2019-01-01 2019-03-31 0001558235 us-gaap:CorporateNonSegmentMember 2019-01-01 2019-03-31 0001558235 us-gaap:CorporateNonSegmentMember 2020-01-01 2020-03-31 0001558235 us-gaap:OperatingSegmentsMember cpa18:SelfStorageMember 2020-01-01 2020-03-31 0001558235 us-gaap:MaterialReconcilingItemsMember 2019-01-01 2019-03-31 0001558235 us-gaap:AssetManagement1Member 2020-01-01 2020-03-31 0001558235 us-gaap:AssetManagement1Member 2019-01-01 2019-03-31 xbrli:shares cpa18:vie xbrli:pure cpa18:instrument cpa18:payment iso4217:USD xbrli:shares iso4217:EUR iso4217:NOK cpa18:segment cpa18:property iso4217:USD utreg:sqft cpa18:tenant 147098000 141899000 143935000 142255000 P10Y 328312000 78598000 335051000 79634000 1339000 268000 P1Y P1Y P60D 961000 1001000 0.50 0.50 2868000 2900000 3002000 3000000 0.9997 89000 70000 4062000 695000 110000 8000 118000 555000 88000 4456000 3007000 94679000 93820000 1848000 1916000 0.1 5951000 5360000 0.10 284097000 101198000 276196000 98588000 6627000 6627000 6875000 6875000 14974000 14974000 14930000 14930000 8347000 8347000 8055000 8055000 -5217000 38569000 -0.025 -0.064 -0.164 275052000 265654000 1800000 700000 0.02 4600000 4500000 0.0025 3900000 3500000 3 12 65 4 1 0 4 1 0 -476000 43000 -39000 -668000 -2126000 -3440000 15000 -54000 1 0.5 2252000 1488000 0.015 0.005 0.25 0.02 0.03 0.5 0.040 0.025 0.02 0.06 0.010 0.05 17265000 17943000 4024000 3128000 6758000 5766000 1117000 0 237000000 18 18 19 19 1 1 2926000 3641000 1006000 325000 false --12-31 Q1 2020 2020-03-31 10-Q 0001558235 118621016 32549043 Yes false Non-accelerated Filer Corporate Property Associates 18 Global Incorporated false false 0.040 0.037 2500000 470326000 508253000 -6900000 -56535000 -79912000 1319584000 1323827000 2800000 7000000 9600000 5500000 2234803000 642648000 105407000 28162000 1517659000 213692000 369883000 2149544000 661082000 76018000 28165000 1463826000 215628000 365907000 2200000 5000000 144148000 104939000 190838000 161799000 163398000 131902000 -29039000 -31496000 0.1563 0.1373 0.1563 0.1563 0.1382 0.1382 0.001 0.001 0.001 0.001 320000000 80000000 320000000 80000000 114589333 31641265 115444107 31840141 117179578 117179578 32238513 32238513 5922928 117627430 117627430 32263611 32263611 117000 32000 117000 32000 10505000 -31557000 4688000 83000 15193000 -31474000 235751000 233220000 267044000 267044000 2400000 1200000 1188311000 1201913000 1239004000 1183382000 1196712000 -2100000 -1315000 -1300000 5800000 6200000 6244000 48600000 42900000 1400000 1500000 3800000 7500000 3800000 7100000 15372000 14530000 0 0 2039000 1991000 48000 1991000 48000 4592000 4555000 37000 4555000 37000 0 2474000 1444000 861000 116000 53000 2474000 0 3209000 2518000 654000 37000 0 0 3209000 0 -1900000 1600000 124000 7000 118000 0 -1000 0 275000 0 81000 7000 179000 8000 2100000 4700000 17152000 2006000 12975000 9183000 59000000 30660000 2500000 5700000 92008000 20 5 1 1 2 16 1 1 9 P72M 52625000 51714000 1000000 1000000 55278000 54419000 42054000 30338000 0 11768000 39401000 39401000 22416000 22416000 22416000 22844000 22844000 22844000 22745000 22844000 22800000 11376000 9486000 0.10 0.10 -0.05 -0.05 -441000 -3388000 1 32200000 29300000 14900000 13200000 P30Y P6Y P30Y P23Y P7Y P6Y 135153000 4141000 131012000 136039000 4187000 131852000 249028000 10257000 238771000 242475000 9929000 232546000 113875000 6116000 107759000 106436000 5742000 100694000 3172000 1665000 654000 801000 52000 1.1234 1.3204 0.1139 1.0956 1.2360 0.0952 15408000 897000 14514000 0 0 0 1759000 1897000 26024000 26000000 23179000 23200000 20597000 -5963000 -648000 -54000 924000 360000 23000 33000 -394000 -639000 -14000 31000 139899000 129615000 2000000 2003000 12357000 8736000 120000 3426000 0 -24000 -24000 100000 10489000 6858000 252000 3356000 0 196000 196000 127000 123000 2115000 2576000 -4555000 20000 -37000 17000 0 -4555000 434245000 1003952000 427622000 972941000 78240000 196693000 77704000 185556000 30914000 22361000 1383132000 330549000 1357611000 342183000 2234803000 2149544000 22500000 1183382000 385187000 198335000 203916000 189208000 151979000 59686000 0.021 58799000 56122000 8943000 8943000 3355000 3355000 8.94 -29531000 -5758000 -20926000 -45158000 21859000 22808000 14827000 1832000 5316000 12531000 1967000 11654000 3173000 -8180000 710000 -6894000 1044000 2820000 -6398000 -1782000 4846000 1848000 209000 2789000 2611000 1916000 700000 -5000 2520000 2520000 595000 595000 2575000 -12615000 0 28000000 30300000 28000000 30300000 70054000 45457000 24597000 0 58338000 44964000 13374000 0 47 68 2 12 3 3 4651000 5084000 32272000 1000 17311000 1634000 8745000 36228000 0 20602000 1485000 9095000 29948000 17265000 21407000 17943000 25387000 16641000 17622000 17302000 4561000 624000 3785000 641000 -158000 -2525000 -4242000 143000 -4099000 -24082000 -1622000 -25704000 -238000 -238000 -238000 -1823000 -1820000 -3000 -1820000 0 -3000 -237000 805000 1000 -157000 1000 -887000 -1674000 1140000 149000 -207000 -139000 -2617000 11000 346000 -3000 27000 381000 119000 278000 -17000 -179000 201000 -4242000 -4084000 -158000 -4084000 -24082000 -35700000 -7200000 -41900000 -21557000 -2525000 -21557000 -4480000 -4242000 -238000 -4480000 -25905000 -24082000 -1823000 -25905000 -158000 0 -158000 -2528000 0 -2528000 6466000 6724000 172000 0 357000 357000 -2072000 0 397000 397000 32408000 38086000 3605000 8177000 22264000 22745000 0 345000 750000 3057000 7112000 3355000 0.001 0.001 50000000 50000000 0 0 0 0 0 1134000 1200000000 10487000 10426000 192300000 55100000 7582000 25126000 2520000 595000 -716000 -99000 16404000 0 19673000 14827000 4846000 14827000 -5569000 -8180000 2611000 -8180000 0 4865000 4900000 57237000 135922000 60743000 138269000 2275032000 2237401000 1946720000 455248000 1064723000 1902350000 444583000 1020228000 512485000 505326000 28000000.0 28000000 28000000 798000 725000 1200645000 359886000 1158497000 343342000 16423000 7529000 19250000 26963000 50294000 1833000 30992000 2622000 14839000 42880000 710000 24067000 2747000 15356000 1201913000 276124000 1183382000 287069000 16800000 4971000 3944000 60000000 965197 297063 966298 290887 220238 169045 11019000 1000 0 11018000 11019000 10939000 1000 0 10938000 10939000 1922000 0 1922000 1922000 1481000 0 1481000 1481000 330661 98187 687491 265789 3605000 3605000 3605000 8177000 1000 0 8176000 8177000 792872000 735811000 895970000 -1108000 -1108000 -1108000 114000 32000 -411464000 2215000 -50593000 -52808000 1290888000 66993000 828977000 890552000 115000 32000 -420161000 1977000 -54915000 -56892000 1300223000 65258000 825294000 851671000 -6903000 -6903000 -6903000 117000 32000 -470326000 138000 -56535000 -56673000 1319584000 58799000 792872000 791933000 117000 32000 -508253000 -1685000 -79912000 -78227000 1323827000 56122000 735811000 900000 700000 115497094 31879027 117968262 32445640 <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net investments in our direct financing lease investments is summarized as follows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease payments receivable</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">54,419</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">55,278</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unguaranteed residual value</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,401</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,401</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">93,820</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">94,679</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: unearned income</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(51,714</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(52,625</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: allowance for credit losses </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(11,768</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,338</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,054</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table reflects the end-of-period rate of the U.S. dollar in relation to foreign currencies:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:53%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Percent Change</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Pound Sterling</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.2360</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.3204</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Euro</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.0956</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.1234</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2.5</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)%</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Norwegian Krone</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.0952</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.1139</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(16.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)%</font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Intangible Assets and Liabilities</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In-place lease and above-market rent intangibles are included in In-place lease and other intangible assets in the condensed consolidated financial statements. Below-market rent intangibles are included in Accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Goodwill is included in our Net Lease segment and included in Accounts receivable and other assets, net in the condensed consolidated financial statements. As a result of foreign currency translation adjustments, goodwill decreased from </font><font style="font-family:inherit;font-size:10pt;">$26.0 million</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">$23.2 million</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Intangible assets and liabilities are summarized as follows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="26" rowspan="1"></td></tr><tr><td style="width:24%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Amortization Period (Years)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Gross Carrying Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Accumulated Amortization</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Net Carrying Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Gross Carrying Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Accumulated Amortization</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Net Carrying Amount</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Finite-Lived Intangible Assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In-place lease</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6 &#8211; 23</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">232,546</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(131,852</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100,694</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">238,771</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(131,012</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">107,759</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Above-market rent</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7 &#8211; 30</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,929</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,187</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,742</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,257</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,141</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,116</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">242,475</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(136,039</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">106,436</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">249,028</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(135,153</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">113,875</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Indefinite-Lived Intangible Assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Goodwill</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,179</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,179</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,024</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,024</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total intangible assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">265,654</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(136,039</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">129,615</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,052</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(135,153</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">139,899</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Finite-Lived Intangible Liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Below-market rent</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6 &#8211; 30</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,930</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,875</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,055</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,974</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,627</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,347</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total intangible liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,930</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,875</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,055</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,974</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,627</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,347</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net amortization of intangibles, including the effect of foreign currency translation, was </font><font style="font-family:inherit;font-size:10pt;">$3.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$3.9 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">, respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Rental income; and amortization of in-place lease intangibles is included in Depreciation and amortization expense.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Intangible assets and liabilities are summarized as follows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="26" rowspan="1"></td></tr><tr><td style="width:24%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Amortization Period (Years)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Gross Carrying Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Accumulated Amortization</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Net Carrying Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Gross Carrying Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Accumulated Amortization</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:7.8pt;"><font style="font-family:inherit;font-size:7.8pt;font-weight:bold;">Net Carrying Amount</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Finite-Lived Intangible Assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In-place lease</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6 &#8211; 23</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">232,546</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(131,852</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">100,694</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">238,771</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(131,012</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">107,759</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Above-market rent</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7 &#8211; 30</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,929</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,187</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,742</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,257</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,141</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,116</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">242,475</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(136,039</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">106,436</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">249,028</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(135,153</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">113,875</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Indefinite-Lived Intangible Assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Goodwill</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,179</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23,179</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,024</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,024</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total intangible assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">265,654</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(136,039</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">129,615</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275,052</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(135,153</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">139,899</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Finite-Lived Intangible Liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Below-market rent</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6 &#8211; 30</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,930</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,875</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,055</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,974</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,627</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,347</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total intangible liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,930</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,875</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,055</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(14,974</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,627</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,347</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="18" rowspan="1"></td></tr><tr><td style="width:27%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying&#160;Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair&#160;Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying&#160;Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair&#160;Value</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-recourse secured debt, net </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a) (b)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,183,382</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,196,712</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,201,913</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,239,004</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notes receivable </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(c)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,300</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,300</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the carrying value of Non-recourse secured debt, net includes unamortized deferred financing costs of </font><font style="font-family:inherit;font-size:10pt;">$6.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$5.8 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, and unamortized premium, net of </font><font style="font-family:inherit;font-size:10pt;">$1.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.1 million</font><font style="font-family:inherit;font-size:10pt;">, respectively (</font><a style="font-family:inherit;font-size:10pt;" href="#s2F517946DF8C56DFB975063B8D6F2BB8"><font style="font-family:inherit;font-size:10pt;">Note 9</font></a><font style="font-family:inherit;font-size:10pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We determined the estimated fair value of our Non-recourse secured debt, net using a discounted cash flow model that estimates the present value of the future loan payments by discounting such payments at current estimated market interest rates. The estimated market interest rates take into account interest rate risk and the value of the underlying collateral, which includes quality of the collateral, the credit quality of the tenant/obligor, and the time until maturity.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We determined the estimated fair value of our Notes receivable using a discounted cash flow model with rates that take into account the credit of the tenant/obligor, order of payment tranches, and interest rate risk. We also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant/obligor, the time until maturity, and the current market interest rate.</font></div></td></tr></table><div style="line-height:120%;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Presentation </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our interim condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of our condensed consolidated financial position, results of operations, and cash flows in accordance with generally accepted accounting principles in the United States (&#8220;GAAP&#8221;).</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Commitments and Contingencies </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, we were not involved in any material litigation. Various claims and lawsuits arising in the normal course of business are pending against us. The results of these proceedings are not expected to have a material adverse effect on our condensed consolidated financial statements of operations or results of operations. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">See </font><a style="font-family:inherit;font-size:10pt;" href="#sF276B660AE965D83BA1A23819CF7E9EE"><font style="font-family:inherit;font-size:10pt;">Note 4</font></a><font style="font-family:inherit;font-size:10pt;"> for unfunded construction commitments.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Consolidation</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our condensed consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries. The portions of equity in consolidated subsidiaries that are not attributable, directly or indirectly, to us are presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated. </font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed a VIE and, if so, whether we are the primary beneficiary and are therefore required to consolidate the entity.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Non-Recourse Secured Debt, Net</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-recourse secured debt, net is collateralized by the assignment of real estate properties. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, the weighted-average interest rates for our fixed-rate and variable-rate non-recourse secured debt were </font><font style="font-family:inherit;font-size:10pt;">4.0%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">3.7%</font><font style="font-family:inherit;font-size:10pt;">, respectively, with maturity dates ranging from </font><font style="font-family:inherit;font-size:10pt;">2020</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">2039</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financing Activity During 2020</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;13, 2020</font><font style="font-family:inherit;font-size:10pt;">, we obtained a construction loan of </font><font style="font-family:inherit;font-size:10pt;">$22.5 million</font><font style="font-family:inherit;font-size:10pt;"> (amount based on the exchange rate of the euro at the date of the loan) for a student housing development project in Barcelona, Spain. The loan is comprised of four tranches with a weighted average variable interest rate of </font><font style="font-family:inherit;font-size:10pt;">2.1%</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">. Interest only payments are due on outstanding draws through its scheduled maturity date of </font><font style="font-family:inherit;font-size:10pt;">December 2023</font><font style="font-family:inherit;font-size:10pt;">. A total of </font><font style="font-family:inherit;font-size:10pt;">$16.8 million</font><font style="font-family:inherit;font-size:10pt;"> was drawn on the loan as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Scheduled Debt Principal Payments</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Scheduled debt principal payments during the remainder of 2020, each of the next four calendar years following </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, and thereafter are as follows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:82%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Years&#160;Ending&#160;December&#160;31,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020 (remainder)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">59,686</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2021</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">151,979</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">189,208</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2023</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">203,916</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2024</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">198,335</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Thereafter through 2039</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">385,187</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total principal payments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,188,311</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unamortized deferred financing costs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,244</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unamortized premium, net</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,315</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,183,382</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts in the table above are based on the applicable foreign currency exchange rate at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The carrying value of our Non-recourse secured debt, net decreased by </font><font style="font-family:inherit;font-size:10pt;">$35.7 million</font><font style="font-family:inherit;font-size:10pt;"> in the aggregate from </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, reflecting the impact of exchange rate fluctuations during the same period (</font><a style="font-family:inherit;font-size:10pt;" href="#sE345805CB89251F8839D1DD4C526E9D4"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Covenants</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our non-recourse mortgage loan agreements include customary financial maintenance covenants that require us to maintain certain ratios and benchmarks at the end of each quarter. We were in compliance with all of these covenants at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Risk Management and Use of Derivative Financial Instruments</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Risk Management</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the normal course of our ongoing business operations, we encounter economic risk. There are four main components of economic risk that impact us: interest rate risk, credit risk, market risk, and foreign currency risk. We are primarily subject to interest rate risk on our interest-bearing liabilities. Credit risk is the risk of default on our operations and our tenants&#8217; inability or unwillingness to make contractually required payments. Market risk includes changes in the value of our properties and related loans, as well as changes in the value of our other investments due to changes in interest rates or other market factors. We own international investments, primarily in Europe, and are subject to risks associated with fluctuating foreign currency exchange rates.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Derivative Financial Instruments</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There have been no significant changes in our derivative financial instrument policies from what was disclosed in the </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;"> Annual Report. As of both&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">no</font><font style="font-family:inherit;font-size:10pt;"> cash collateral had been posted or received for any of our derivative positions.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table sets forth certain information regarding our derivative instruments (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="19" rowspan="1"></td></tr><tr><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:19%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives Designated as Hedging Instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Balance Sheet Location</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivative Assets Fair Value at</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivative Liabilities Fair Value at</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable and other assets, net</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,518</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,444</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable and other assets, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">654</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">861</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate caps</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable and other assets, net</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">116</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable and other assets, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts payable, accrued expenses and other liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,555</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,991</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,209</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,474</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,555</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,991</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives Not Designated as Hedging Instruments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts payable, accrued expenses and other liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(37</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(48</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(37</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(48</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total derivatives</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,209</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,474</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,592</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,039</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present the impact of our derivative instruments in the condensed consolidated financial statements (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:68%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount&#160;of&#160;Loss Recognized on Derivatives in Other&#160;Comprehensive&#160;Loss</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives&#160;in&#160;Cash&#160;Flow&#160;Hedging&#160;Relationships&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,617</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(887</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,140</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">805</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(207</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(157</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate caps</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(139</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives in Net Investment Hedging Relationship </font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(a)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">149</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,674</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(237</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The changes in fair value and the settlement of these contracts are reported in the foreign currency translation adjustment section of </font><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss</font><font style="font-family:inherit;font-size:10pt;">.</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:32%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:35%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount&#160;of&#160;Gain on Derivatives Reclassified&#160;from Other&#160;Comprehensive&#160;Loss into&#160;Income</font></div></td></tr><tr><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives&#160;in&#160;Cash&#160;Flow Hedging&#160;Relationships&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Location of Gain (Loss) Recognized in Income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">278</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">346</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(179</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">27</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">119</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate caps</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(17</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">201</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">381</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amounts reported in </font><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss</font><font style="font-family:inherit;font-size:10pt;"> related to our interest derivative contracts will be reclassified to Interest expense as interest is incurred on our variable-rate debt. Amounts reported in </font><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss</font><font style="font-family:inherit;font-size:10pt;"> related to foreign currency derivative contracts will be reclassified to Other gains and (losses) when the hedged foreign currency contracts are settled. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, we estimated that an additional </font><font style="font-family:inherit;font-size:10pt;">$1.9 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.6 million</font><font style="font-family:inherit;font-size:10pt;"> will be reclassified as Interest expense and Other gains and (losses), respectively, during the next 12 months.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the impact of our derivative instruments in the condensed consolidated financial statements (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:32%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:35%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount&#160;of&#160;Gain on Derivatives Recognized&#160;in Income </font></div></td></tr><tr><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives&#160;Not in&#160;Cash&#160;Flow Hedging&#160;Relationships&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Location of Gain (Loss) Recognized in Income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">81</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">118</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives&#160;in Cash Flow Hedging Relationships</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">179</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">124</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Interest Rate Swaps and Caps</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are exposed to the impact of interest rate changes primarily through our borrowing activities. To limit this exposure, we attempt to obtain mortgage financing on a long-term, fixed-rate basis. However, from time to time, we or our joint investment partners have obtained, and may in the future obtain, variable-rate non-recourse secured debt and, as a result, we have entered into, and may continue to enter into interest rate swap agreements or interest rate cap agreements with counterparties. Interest rate swaps, which effectively convert the variable-rate debt service obligations of a loan to a fixed rate, are agreements in which one party exchanges a stream of interest payments for a counterparty&#8217;s stream of cash flow over a specific period. The notional, or face, amount on which the swaps are based is not exchanged. Interest rate caps limit the effective borrowing rate of variable-rate debt obligations while allowing participants to share in downward shifts in interest rates. Our objective in using these derivatives is to limit our exposure to interest rate movements.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The interest rate swaps and caps that our consolidated subsidiaries had outstanding as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> are summarized as follows (currency in thousands):</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:47%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interest Rate Derivatives</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Number of Instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Notional<br clear="none"/>Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair&#160;Value&#160;at</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31,&#160;2020 </font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(a)</sup></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92,008</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">USD</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,555</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate cap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,975</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EUR</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate caps</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">59,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GBP</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate cap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,700</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">USD</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives Not Designated as Hedging Instruments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swap</font><font style="font-family:inherit;font-size:8pt;">&#160;</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(b)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,183</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EUR</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(37</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,555</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value amount is based on the exchange rate of the respective currencies as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, as applicable.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This interest rate swap does not qualify for hedge accounting; however, it does protect against fluctuations in interest rates related to the underlying variable-rate debt.</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Foreign Currency Contracts</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are exposed to foreign currency exchange rate movements, primarily in the euro and, to a lesser extent, the Norwegian krone. We manage foreign currency exchange rate movements by generally placing our debt service obligation on an investment in the same currency as the tenant&#8217;s rental obligation to us. This reduces our overall exposure to the net cash flow from that investment. However, we are subject to foreign currency exchange rate movements to the extent that there is a difference in the timing and amount of the rental obligation and the debt service. Realized and unrealized gains and losses recognized in earnings related to foreign currency transactions are included in Other gains and (losses) in the condensed consolidated financial statements. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In order to hedge certain of our foreign currency cash flow exposures, we enter into foreign currency forward contracts and collars. A foreign currency forward contract is a commitment to deliver a certain amount of currency at a certain price on a specific date in the future. By entering into forward contracts and holding them to maturity, we are locked into a future currency exchange rate for the term of the contract. A foreign currency collar guarantees that the exchange rate of the currency will not fluctuate beyond the range of the options&#8217; strike prices. Our foreign currency forward contracts and foreign currency collars have maturities of </font><font style="font-family:inherit;font-size:10pt;">72</font><font style="font-family:inherit;font-size:10pt;"> months or less. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the foreign currency derivative contracts we had outstanding and their designations as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> (currency in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:47%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Foreign Currency Derivatives</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Number of Instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Notional<br clear="none"/>Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair&#160;Value&#160;at<br clear="none"/>March 31, 2020</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Designated as Cash Flow Hedging Instruments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #cceeff;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #cceeff;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #cceeff;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,152</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EUR</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,665</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,660</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOK</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">801</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency forward contracts </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,006</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EUR</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">654</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Designated as Net Investment Hedging Instruments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collar</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,500</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOK</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,172</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Credit Risk-Related Contingent Features</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We measure our credit exposure on a counterparty basis as the net positive aggregate estimated fair value of our derivatives, net of any collateral received. </font><font style="font-family:inherit;font-size:10pt;">No</font><font style="font-family:inherit;font-size:10pt;"> collateral was received as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">. At&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, our total credit exposure was </font><font style="font-family:inherit;font-size:10pt;">$2.4 million</font><font style="font-family:inherit;font-size:10pt;"> and the maximum exposure to any single counterparty was </font><font style="font-family:inherit;font-size:10pt;">$1.2 million</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Some of the agreements we have with our derivative counterparties contain cross-default provisions that could trigger a declaration of default on our derivative obligations if we default, or are capable of being declared in default, on certain of our indebtedness. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, we had not been declared in default on any of our derivative obligations. The estimated fair value of our derivatives in a net liability position was </font><font style="font-family:inherit;font-size:10pt;">$4.7 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.1 million</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, respectively, which included accrued interest and any nonperformance risk adjustments. If we had breached any of these provisions as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> or </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, we could have been required to settle our obligations under these agreements at their aggregate termination value of </font><font style="font-family:inherit;font-size:10pt;">$5.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.2 million</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Fair Value Measurements </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities, and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate caps, interest rate swaps, foreign currency forward contracts and foreign currency collars; and Level 3, for securities that do not fall into Level 1 or Level 2 and for which little or no market data exists, therefore requiring us to develop our own assumptions.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Items Measured at Fair Value on a Recurring Basis </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The methods and assumptions described below were used to estimate the fair value of each class of financial instrument. For significant Level 3 items, we have also provided the unobservable inputs.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Derivative Assets and Liabilities</font><font style="font-family:inherit;font-size:10pt;"> &#8212; Our derivative assets and liabilities, which are included in Accounts receivable and other assets, net and Accounts payable, accrued expenses and other liabilities, respectively, in the condensed consolidated financial statements, are comprised of foreign currency forward contracts, interest rate swaps, interest rate caps, and foreign currency collars (</font><a style="font-family:inherit;font-size:10pt;" href="#s5F5AA129AB68575C8BA012180D2459D2"><font style="font-family:inherit;font-size:10pt;">Note 8</font></a><font style="font-family:inherit;font-size:10pt;">). </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The valuation of our derivative instruments is determined using a discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves, spot and forward rates, and implied volatilities. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty&#8217;s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative instruments for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. These derivative instruments were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We did not have any transfers into or out of Level 1, Level 2, and Level 3 measurements during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">. Gains and losses (realized and unrealized) recognized on items measured at fair value on a recurring basis included in earnings are reported within Other gains and (losses)&#160;on our condensed consolidated financial statements.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="18" rowspan="1"></td></tr><tr><td style="width:27%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Level</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying&#160;Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair&#160;Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying&#160;Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair&#160;Value</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-recourse secured debt, net </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a) (b)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,183,382</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,196,712</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,201,913</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,239,004</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Notes receivable </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(c)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,300</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,300</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the carrying value of Non-recourse secured debt, net includes unamortized deferred financing costs of </font><font style="font-family:inherit;font-size:10pt;">$6.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$5.8 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, and unamortized premium, net of </font><font style="font-family:inherit;font-size:10pt;">$1.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.1 million</font><font style="font-family:inherit;font-size:10pt;">, respectively (</font><a style="font-family:inherit;font-size:10pt;" href="#s2F517946DF8C56DFB975063B8D6F2BB8"><font style="font-family:inherit;font-size:10pt;">Note 9</font></a><font style="font-family:inherit;font-size:10pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We determined the estimated fair value of our Non-recourse secured debt, net using a discounted cash flow model that estimates the present value of the future loan payments by discounting such payments at current estimated market interest rates. The estimated market interest rates take into account interest rate risk and the value of the underlying collateral, which includes quality of the collateral, the credit quality of the tenant/obligor, and the time until maturity.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We determined the estimated fair value of our Notes receivable using a discounted cash flow model with rates that take into account the credit of the tenant/obligor, order of payment tranches, and interest rate risk. We also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant/obligor, the time until maturity, and the current market interest rate.</font></div></td></tr></table><div style="line-height:120%;padding-left:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We estimated that our other financial assets and liabilities (excluding net investments in direct financing leases) had fair values that approximated their carrying values as of both </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Derivative Assets and Liabilities</font><font style="font-family:inherit;font-size:10pt;"> &#8212; Our derivative assets and liabilities, which are included in Accounts receivable and other assets, net and Accounts payable, accrued expenses and other liabilities, respectively, in the condensed consolidated financial statements, are comprised of foreign currency forward contracts, interest rate swaps, interest rate caps, and foreign currency collars (</font><a style="font-family:inherit;font-size:10pt;" href="#s5F5AA129AB68575C8BA012180D2459D2"><font style="font-family:inherit;font-size:10pt;">Note 8</font></a><font style="font-family:inherit;font-size:10pt;">). </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The valuation of our derivative instruments is determined using a discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves, spot and forward rates, and implied volatilities. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty&#8217;s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative instruments for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. These derivative instruments were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"></font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities, and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate caps, interest rate swaps, foreign currency forward contracts and foreign currency collars; and Level 3, for securities that do not fall into Level 1 or Level 2 and for which little or no market data exists, therefore requiring us to develop our own assumptions.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A summary of our finance receivables by internal credit quality rating is as follows (dollars in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13" rowspan="1"></td></tr><tr><td style="width:36%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Number&#160;of&#160;Tenants/Obligors at</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying Value at</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Internal&#160;Credit&#160;Quality&#160;Indicator</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1 &#8211; 3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">44,964</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">45,457</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,374</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,597</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;">0</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">58,338</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">70,054</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Finance Receivables</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets representing rights to receive money on demand or at fixed or determinable dates are referred to as finance receivables. Our finance receivables portfolio consists of our notes receivable (which are included in Accounts receivable and other assets, net in the condensed consolidated financial statements) and our Net investments in direct financing leases (net of allowance for credit losses). Operating leases are not included in finance receivables. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Notes Receivable</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, our notes receivable consisted of a </font><font style="font-family:inherit;font-size:10pt;">$28.0 million</font><font style="font-family:inherit;font-size:10pt;"> mezzanine tranche of </font><font style="font-family:inherit;font-size:10pt;">10</font><font style="font-family:inherit;font-size:10pt;">-year commercial mortgage-backed securities on the Cipriani banquet halls in New York, New York with a maturity date of July 2024. The mezzanine tranche is subordinated to a </font><font style="font-family:inherit;font-size:10pt;">$60.0 million</font><font style="font-family:inherit;font-size:10pt;"> senior loan on the properties. Interest-only payments at a rate of </font><font style="font-family:inherit;font-size:10pt;">10%</font><font style="font-family:inherit;font-size:10pt;"> per annum are due through its maturity date. As of both </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the balance for this note receivable remained </font><font style="font-family:inherit;font-size:10pt;">$28.0 million</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest income from our notes receivable was </font><font style="font-family:inherit;font-size:10pt;">$0.7 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.8 million</font><font style="font-family:inherit;font-size:10pt;"> for </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">, respectively, and is included in Other operating and interest income in our condensed consolidated statements of operations.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Net Investments in Direct Financing Leases</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net investments in our direct financing lease investments is summarized as follows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease payments receivable</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">54,419</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">55,278</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unguaranteed residual value</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,401</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39,401</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">93,820</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">94,679</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: unearned income</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(51,714</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(52,625</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: allowance for credit losses </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(11,768</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,338</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,054</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Upon our adoption of ASU 2016-13 on January 1, 2020, we applied changes in loss reserves through a cumulative-effect adjustment to retained earnings totaling </font><font style="font-family:inherit;font-size:10pt;">$6.9 million</font><font style="font-family:inherit;font-size:10pt;"> (</font><a style="font-family:inherit;font-size:10pt;" href="#sE345805CB89251F8839D1DD4C526E9D4"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;">). In addition, during the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;">, due to changes in expected economic conditions, we recorded an allowance for credit losses of </font><font style="font-family:inherit;font-size:10pt;">$4.9 million</font><font style="font-family:inherit;font-size:10pt;">, which was included in Allowance for credit losses in our condensed consolidated statements of operations.</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest income from direct financing leases was </font><font style="font-family:inherit;font-size:10pt;">$1.0 million</font><font style="font-family:inherit;font-size:10pt;"> for both the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">, and is included in Lease revenues &#8212; net-leased in our condensed consolidated statements of operations. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Credit Quality of Finance Receivables</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We generally invest in facilities that we believe are critical to a tenant&#8217;s business and therefore have a lower risk of tenant default. As of both </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, we had no significant finance receivable balances that were past due, but as noted above, we established an allowance for credit losses during the first quarter of 2020. Additionally, there were no modifications of finance receivables during the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We evaluate the credit quality of our finance receivables utilizing an internal five-point credit rating scale, with one representing the highest credit quality and five representing the lowest. A credit quality of one through three indicates a range of investment grade to stable. A credit quality of four through five indicates inclusion on the watch list to risk of default. The credit quality evaluation of our finance receivables is updated quarterly. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">A summary of our finance receivables by internal credit quality rating is as follows (dollars in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="13" rowspan="1"></td></tr><tr><td style="width:36%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Number&#160;of&#160;Tenants/Obligors at</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying Value at</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Internal&#160;Credit&#160;Quality&#160;Indicator</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1 &#8211; 3</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">44,964</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">45,457</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,374</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,597</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;">0</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">58,338</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">70,054</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Rental income; and amortization of in-place lease intangibles is included in Depreciation and amortization expense.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Organization</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Corporate Property Associates 18 &#8211; Global Incorporated (&#8220;CPA:18 &#8211; Global&#8221;), is a publicly owned, non-traded REIT, that invests primarily in a diversified portfolio of income-producing commercial real estate properties leased to companies, both domestically and internationally. In addition, our portfolio includes self-storage and student housing investments. We were formed in 2012 and are managed by W. P. Carey Inc. (&#8220;WPC&#8221;) through one of its subsidiaries (collectively our &#8220;Advisor&#8221;). As a REIT, we are not subject to U.S. federal income taxes on income and gains that we distribute to our stockholders as long as we satisfy certain requirements, principally relating to the nature of our income and the level of our distributions, among other factors. We earn revenue primarily by leasing the properties we own to single corporate tenants, predominantly on a triple-net lease basis, which requires the tenant to pay substantially all of the costs associated with operating and maintaining the property. We derive self-storage revenue from rents received from customers who rent storage space primarily under month-to-month leases for personal or business use. We earn student housing revenue primarily from leases of one year or less with individual students. Revenue is subject to fluctuation due to the timing of new lease transactions, lease terminations, lease expirations, contractual rent adjustments, tenant defaults, sales of properties, and changes in foreign currency exchange rates.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Substantially all of our assets and liabilities are held by CPA:18 Limited Partnership (the &#8220;Operating Partnership&#8221;), and as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> we owned </font><font style="font-family:inherit;font-size:10pt;">99.97%</font><font style="font-family:inherit;font-size:10pt;"> of general and limited partnership interests in the Operating Partnership. The remaining interest in the Operating Partnership is held by a subsidiary of WPC.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, our net lease portfolio was comprised of full or partial ownership interests in </font><font style="font-family:inherit;font-size:10pt;">47</font><font style="font-family:inherit;font-size:10pt;"> properties, substantially all of which were fully-occupied and triple-net leased to </font><font style="font-family:inherit;font-size:10pt;">65</font><font style="font-family:inherit;font-size:10pt;"> tenants totaling </font><font style="font-family:inherit;font-size:10pt;">9.6 million</font><font style="font-family:inherit;font-size:10pt;"> square feet. The remainder of our portfolio was comprised of our full or partial ownership interests in </font><font style="font-family:inherit;font-size:10pt;">68</font><font style="font-family:inherit;font-size:10pt;"> self-storage properties, </font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;"> student housing development projects and </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> student housing operating properties, totaling approximately </font><font style="font-family:inherit;font-size:10pt;">5.5 million</font><font style="font-family:inherit;font-size:10pt;"> square feet.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We operate in three reportable business segments: Net Lease, Self Storage, and Other Operating Properties. Our Net Lease segment includes our investments in net-leased properties, whether they are accounted for as operating leases or direct financing leases. Our Self Storage segment is comprised of our investments in self-storage properties. Our Other Operating Properties segment is primarily comprised of our investments in student housing operating properties and multi-family residential properties (our last multi-family residential property was sold in January 2019). In addition, we have an All Other category that includes our notes receivable investments</font><font style="font-family:inherit;font-size:10pt;">, one of which was repaid during the second quarter of 2019. Our reportable business segments and All Other category are the same as our reporting units (</font><a style="font-family:inherit;font-size:10pt;" href="#s35D9EB0145FC5F028B2B38A6727E7FFB"><font style="font-family:inherit;font-size:10pt;">Note 12</font></a><font style="font-family:inherit;font-size:10pt;">). </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We raised aggregate gross proceeds in our initial public offering of approximately </font><font style="font-family:inherit;font-size:10pt;">$1.2 billion</font><font style="font-family:inherit;font-size:10pt;"> through April 2, 2015, which is the date we closed our offering. We have fully invested the proceeds from our initial public offering. In addition, from inception through </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$192.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$55.1 million</font><font style="font-family:inherit;font-size:10pt;"> of distributions to our shareholders were reinvested in our Class A and Class C common stock, respectively, through our Distribution Reinvestment Plan (&#8220;DRIP&#8221;).</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Pronouncements Adopted through </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">March&#160;31, 2020</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ASU 2016-13, Financial Instruments &#8212; Credit Losses.</font><font style="font-family:inherit;font-size:10pt;"> ASU 2016-13 replaces the &#8220;incurred loss&#8221; model with an &#8220;expected loss&#8221; model, resulting in the earlier recognition of credit losses even if the risk of loss is remote. This standard applies to financial assets measured at amortized cost and certain other instruments, including loans receivable and net investments in direct financing leases. This standard does not apply to receivables arising from operating leases, which are within the scope of </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Topic 842</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We adopted ASU 2016-13 on January 1, 2020 using the modified retrospective method, which requires applying changes in reserves through a cumulative-effect adjustment to retained earnings. Upon adoption, we recorded a net decrease in retained earnings of </font><font style="font-family:inherit;font-size:10pt;">$6.9 million</font><font style="font-family:inherit;font-size:10pt;">, which is reflected within our consolidated statement of equity. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The allowance for credit losses, which is recorded as a reduction to Net investments in direct financing leases on our condensed consolidated balance sheets, was measured using a probability of default method based on the lessees&#8217; respective credit ratings and the expected value of the underlying collateral upon its repossession. Included in our model are factors that incorporate forward-looking information. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2020, the FASB issued </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting</font><font style="font-family:inherit;font-size:10pt;">. ASU 2020-04 contains practical expedients for reference rate reform-related activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future London Interbank Offered Rate indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We will continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease income related to operating leases recognized and included within Lease revenues &#8212; net-leased and Lease revenues &#8212; operating real estate in the condensed consolidated statements of operations are as follows (in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Lease revenues &#8212; net-leased</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease income &#8212; fixed </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,622</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,387</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease income &#8212; variable </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(b)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,785</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,561</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total operating lease income </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(c)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21,407</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,948</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Lease revenues &#8212; operating real estate</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease income &#8212; fixed</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,302</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,641</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease income &#8212; variable </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(d)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">641</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">624</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total operating lease income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,943</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,265</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amount for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> includes a </font><font style="font-family:inherit;font-size:10pt;">$7.0 million</font><font style="font-family:inherit;font-size:10pt;"> write-off of straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels (</font><a style="font-family:inherit;font-size:10pt;" href="#sE345805CB89251F8839D1DD4C526E9D4"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Includes (i) rent increases based on changes in the Consumer Price Index (&#8220;CPI&#8221;) and other comparable indices and (ii) reimbursements for property taxes, insurance, and common area maintenance services.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Excludes </font><font style="font-family:inherit;font-size:10pt;">$1.0 million</font><font style="font-family:inherit;font-size:10pt;"> of interest income for both the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">, from direct financing leases that is included in Lease revenues &#8212; net-leased in the condensed consolidated statements of operations.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(d)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Primarily comprised of late fees and administrative fees revenues.</font></div></td></tr></table></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Basis of Presentation</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Presentation </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our interim condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of our condensed consolidated financial position, results of operations, and cash flows in accordance with generally accepted accounting principles in the United States (&#8220;GAAP&#8221;). The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the opinion of management, the unaudited financial information for the interim periods presented in this Report reflects all normal and recurring adjustments necessary for a fair statement of financial position, results of operations, and cash flows. Our interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes for the year ended </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, which are included in the </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;"> Annual Report, as certain disclosures that would substantially duplicate those contained in the audited consolidated financial statements have not been included in this Report. Operating results for interim periods are not necessarily indicative of operating results for an entire year.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Basis of Consolidation</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our condensed consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries. The portions of equity in consolidated subsidiaries that are not attributable, directly or indirectly, to us are presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed a VIE and, if so, whether we are the primary beneficiary and are therefore required to consolidate the entity. There have been no significant changes in our VIE policies from what was disclosed in the </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;"> Annual Report.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of both </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, we considered </font><font style="font-family:inherit;font-size:10pt;">19</font><font style="font-family:inherit;font-size:10pt;"> entities to be VIEs, </font><font style="font-family:inherit;font-size:10pt;">18</font><font style="font-family:inherit;font-size:10pt;"> of which we consolidated as we are considered the primary beneficiary. The following table presents a summary of selected financial data of the consolidated VIEs included in the condensed consolidated balance sheets (in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Real estate &#8212; Land, buildings and improvements </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">343,342</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">359,886</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Real estate under construction</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">267,044</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">233,220</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In-place lease intangible assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">98,588</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">101,198</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accumulated depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(79,634</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(78,598</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">661,082</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">642,648</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-recourse secured debt, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">287,069</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">276,124</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">342,183</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">330,549</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of both </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, we had</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> unconsolidated VIE,&#160;which we account for under the equity method of accounting. We do not consolidate this entity because we are not the primary beneficiary and the nature of our involvement in the activities of the entity allows us to exercise significant influence on, but does not give us power over, decisions that significantly affect the economic performance of the entity. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the net carrying amount of this equity investment was </font><font style="font-family:inherit;font-size:10pt;">$13.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$14.9 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, and our maximum exposure to loss in this entity is limited to our investment.&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Foreign Currencies</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We are subject to fluctuations in exchange rates between foreign currencies and the U.S. dollar (primarily the euro and the Norwegian krone and, to a lesser extent, the British pound sterling). The following table reflects the end-of-period rate of the U.S. dollar in relation to foreign currencies:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:53%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Percent Change</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">British Pound Sterling</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.2360</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.3204</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)%</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Euro</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.0956</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1.1234</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2.5</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)%</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Norwegian Krone</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.0952</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.1139</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(16.4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)%</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts have been reclassified to conform to the current period presentation.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We currently present Reimbursable tenant costs on its own line item in the condensed consolidated statements of operations. Previously, this line item was included within Property expenses (which is now presented as Property expenses, excluding reimbursable tenant costs).</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Revenue Recognition</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease revenue (including straight-line lease revenue) is only recognized when deemed probable of collection. Collectibility is assessed for each tenant receivable using various criteria including credit ratings, guarantees, past collection issues, and the current economic and business environment affecting the tenant. If collectibility of the contractual rent stream is not deemed probable, revenue will only be recognized upon receipt of cash from the tenant. During the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;">, we wrote off </font><font style="font-family:inherit;font-size:10pt;">$7.0 million</font><font style="font-family:inherit;font-size:10pt;"> in straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Restricted Cash</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the condensed consolidated statements of cash flows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">104,939</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">144,148</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Restricted cash </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,963</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,250</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total cash and cash equivalents and restricted cash</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">131,902</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">163,398</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Restricted cash is included within Accounts receivable and other assets, net on our condensed consolidated balance sheets.</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Deferred Income Taxes</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our deferred tax liabilities were </font><font style="font-family:inherit;font-size:10pt;">$42.9 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$48.6 million</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, respectively, and are included in Accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements. Our deferred tax assets, net of valuation allowances, were </font><font style="font-family:inherit;font-size:10pt;">$1.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.4 million</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, respectively, and are included in Accounts receivable and other assets, net in the condensed consolidated financial statements. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Recent Accounting Pronouncements</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Pronouncements Adopted through </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">March&#160;31, 2020</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In June 2016, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ASU 2016-13, Financial Instruments &#8212; Credit Losses.</font><font style="font-family:inherit;font-size:10pt;"> ASU 2016-13 replaces the &#8220;incurred loss&#8221; model with an &#8220;expected loss&#8221; model, resulting in the earlier recognition of credit losses even if the risk of loss is remote. This standard applies to financial assets measured at amortized cost and certain other instruments, including loans receivable and net investments in direct financing leases. This standard does not apply to receivables arising from operating leases, which are within the scope of </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Topic 842</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We adopted ASU 2016-13 on January 1, 2020 using the modified retrospective method, which requires applying changes in reserves through a cumulative-effect adjustment to retained earnings. Upon adoption, we recorded a net decrease in retained earnings of </font><font style="font-family:inherit;font-size:10pt;">$6.9 million</font><font style="font-family:inherit;font-size:10pt;">, which is reflected within our consolidated statement of equity. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The allowance for credit losses, which is recorded as a reduction to Net investments in direct financing leases on our condensed consolidated balance sheets, was measured using a probability of default method based on the lessees&#8217; respective credit ratings and the expected value of the underlying collateral upon its repossession. Included in our model are factors that incorporate forward-looking information. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2020, the FASB issued </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting</font><font style="font-family:inherit;font-size:10pt;">. ASU 2020-04 contains practical expedients for reference rate reform-related activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future London Interbank Offered Rate indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We will continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the activity of our Real estate under construction (in thousands):</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:83%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31, 2020</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning balance</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">235,751</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capitalized funds</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38,569</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency translation adjustments</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5,217</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Placed into service</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,062</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capitalized interest</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,003</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ending balance</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">267,044</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Real Estate </font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"> Land, Buildings and Improvements</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Real estate, which consists of land and buildings leased to others, which are subject to operating leases, is summarized as follows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Land</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">185,556</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">196,693</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Buildings and improvements</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">972,941</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,003,952</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: Accumulated depreciation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(138,269</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(135,922</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,020,228</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,064,723</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The carrying value of our Real Estate &#8212; Land, buildings and improvements decreased by </font><font style="font-family:inherit;font-size:10pt;">$41.9 million</font><font style="font-family:inherit;font-size:10pt;"> from </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, reflecting the impact of exchange rate fluctuations during the same period (</font><a style="font-family:inherit;font-size:10pt;" href="#sE345805CB89251F8839D1DD4C526E9D4"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;">). </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation expense, including the effect of foreign currency translation, on our real estate was </font><font style="font-family:inherit;font-size:10pt;">$7.1 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$7.5 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Leases</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Operating Lease Income</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease income related to operating leases recognized and included within Lease revenues &#8212; net-leased and Lease revenues &#8212; operating real estate in the condensed consolidated statements of operations are as follows (in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Lease revenues &#8212; net-leased</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease income &#8212; fixed </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,622</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,387</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease income &#8212; variable </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(b)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,785</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,561</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total operating lease income </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(c)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21,407</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,948</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Lease revenues &#8212; operating real estate</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease income &#8212; fixed</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,302</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,641</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Lease income &#8212; variable </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(d)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">641</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">624</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total operating lease income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,943</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,265</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amount for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> includes a </font><font style="font-family:inherit;font-size:10pt;">$7.0 million</font><font style="font-family:inherit;font-size:10pt;"> write-off of straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels (</font><a style="font-family:inherit;font-size:10pt;" href="#sE345805CB89251F8839D1DD4C526E9D4"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Includes (i) rent increases based on changes in the Consumer Price Index (&#8220;CPI&#8221;) and other comparable indices and (ii) reimbursements for property taxes, insurance, and common area maintenance services.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Excludes </font><font style="font-family:inherit;font-size:10pt;">$1.0 million</font><font style="font-family:inherit;font-size:10pt;"> of interest income for both the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">, from direct financing leases that is included in Lease revenues &#8212; net-leased in the condensed consolidated statements of operations.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(d)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Primarily comprised of late fees and administrative fees revenues.</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Operating Real Estate </font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"> Land, Buildings and Improvements</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating real estate, which consists of our self-storage and student housing properties, is summarized as follows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Land</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">77,704</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">78,240</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Buildings and improvements</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">427,622</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">434,245</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: Accumulated depreciation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(60,743</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(57,237</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">444,583</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">455,248</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The carrying value of our Operating real estate &#8212; land, buildings and improvements decreased by </font><font style="font-family:inherit;font-size:10pt;">$7.2 million</font><font style="font-family:inherit;font-size:10pt;"> from </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, reflecting the impact of exchange rate fluctuations during the same period (</font><a style="font-family:inherit;font-size:10pt;" href="#sE345805CB89251F8839D1DD4C526E9D4"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;">). </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation expense, including the effect of foreign currency translation, on our operating real estate was </font><font style="font-family:inherit;font-size:10pt;">$3.8 million</font><font style="font-family:inherit;font-size:10pt;"> for both the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Real Estate Under Construction</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides the activity of our Real estate under construction (in thousands):</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:83%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31, 2020</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning balance</font></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">235,751</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capitalized funds</font></div></td><td colspan="2" style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38,569</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency translation adjustments</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5,217</font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Placed into service</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,062</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capitalized interest</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,003</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ending balance</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:middle;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">267,044</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Capitalized Funds</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;">, total capitalized funds primarily related to construction draws for our student housing development projects, and includes accrued costs of&#160;</font><font style="font-family:inherit;font-size:10pt;">$2.5 million</font><font style="font-family:inherit;font-size:10pt;">, which is a non-cash investing activity.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Capitalized Interest</font><font style="font-family:inherit;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capitalized interest includes interest incurred during construction as well as amortization of the mortgage discount and deferred financing costs, which totaled </font><font style="font-family:inherit;font-size:10pt;">$2.0 million</font><font style="font-family:inherit;font-size:10pt;"> during the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;">, which is a non-cash investing activity. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Ending Balance </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, we had </font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;"> open development projects, with aggregate unfunded commitments of approximately </font><font style="font-family:inherit;font-size:10pt;">$237.0 million</font><font style="font-family:inherit;font-size:10pt;">, excluding capitalized interest, accrued costs, and capitalized acquisition fees for our Advisor. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Ghana Settlement Update</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;">, the collectibility of the value added tax (&#8220;VAT&#8221;) receivable to be refunded by the Ghanaian government was no longer deemed probable. As such, we recorded a </font><font style="font-family:inherit;font-size:10pt;">$2.8 million</font><font style="font-family:inherit;font-size:10pt;"> loss to write-off the VAT receivable during the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;">, which is included within Other gains and (losses) on our condensed consolidated statements of operations. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Equity Investment in Real Estate</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We classify distributions received from equity method investments using the cumulative earnings approach. Distributions received are considered returns on the investment and classified as cash inflows from operating activities. If, however, the investor&#8217;s cumulative distributions received, less distributions received in prior periods determined to be returns of investment, exceeds cumulative equity in earnings recognized, the excess is considered a return of investment and is classified as cash inflows from investing activities.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have an interest in an unconsolidated investment in our Self Storage segment that relates to a joint venture for the development of&#160;</font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> self-storage facilities in Canada. This entity was jointly owned with a third party, which is also the general partner of the joint venture. Our ownership and economic interest in the joint venture is </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;">. We continue to not consolidate this entity because we are not the primary beneficiary due to shared decision making with the general partner and the nature of our involvement in the activities, which allows us to exercise significant influence, but does not give us power over decisions that significantly affect the economic performance of the entity. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, our total equity investment balance for these self-storage properties was&#160;</font><font style="font-family:inherit;font-size:10pt;">$13.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$14.9 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, which is included in Accounts receivable and other assets, net in the condensed consolidated financial statements. As of&#160;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, the joint venture had&#160;total third-party recourse debt of&#160;</font><font style="font-family:inherit;font-size:10pt;">$29.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$32.2 million</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present a reconciliation of changes in Accumulated other comprehensive loss by component for the periods presented (in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12" rowspan="1"></td></tr><tr><td style="width:59%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31, 2020</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gains and (Losses) on&#160;Derivative Instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Foreign Currency Translation Adjustments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">138</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(56,673</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(56,535</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:30px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss before reclassifications</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,622</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24,082</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(25,704</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:30px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amounts reclassified from accumulated other comprehensive loss to:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(397</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(397</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">196</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">196</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net current-period other comprehensive loss</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,823</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24,082</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(25,905</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net current-period other comprehensive loss attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,528</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,528</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ending balance</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,685</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(78,227</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(79,912</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12" rowspan="1"></td></tr><tr><td style="width:59%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gains and (Losses) on&#160;Derivative Instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Foreign Currency Translation Adjustments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,215</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(52,808</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(50,593</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:30px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss before reclassifications</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">143</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,242</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,099</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:30px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amounts reclassified from accumulated other comprehensive loss&#160;to:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(357</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(357</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net current-period other comprehensive loss</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(238</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,242</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,480</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net current-period other comprehensive loss attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">158</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">158</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ending balance</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,977</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(56,892</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(54,915</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total&#160;Assets</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net Lease</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,463,826</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,517,659</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Self Storage</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">365,907</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">369,883</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other Operating Properties</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">215,628</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">213,692</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Corporate</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76,018</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">105,407</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,165</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,162</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total Company</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,149,544</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,234,803</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;"> includes straight-line rent amortization of </font><font style="font-family:inherit;font-size:10pt;">$0.7 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$0.9 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. The </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> includes a </font><font style="font-family:inherit;font-size:10pt;">$7.0 million</font><font style="font-family:inherit;font-size:10pt;"> write-off of straight-line rent receivables (</font><a style="font-family:inherit;font-size:10pt;" href="#sE345805CB89251F8839D1DD4C526E9D4"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;">). Straight-line lease revenue is only recognized when deemed probable of collection, and is included within Lease revenues &#8212; net-leased within our condensed consolidated financial statements.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> includes an allowance for credit loss of </font><font style="font-family:inherit;font-size:10pt;">$4.9 million</font><font style="font-family:inherit;font-size:10pt;"> in connection with our adoption of ASU 2016-13 (</font><a style="font-family:inherit;font-size:10pt;" href="#sE345805CB89251F8839D1DD4C526E9D4"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;">). </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Includes Equity in losses of equity method investment in real estate.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(d)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in the all other category are our notes receivable investments, one of which was repaid during the second quarter of 2019.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(e)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in unallocated corporate overhead are expenses and other gains and (losses) that are calculated and reported at the portfolio level and not evaluated as part of any segment&#8217;s operating performance. Such items include asset management fees, general and administrative expenses, and gains and losses on foreign currency transactions and derivative instruments. Asset management fees totaled </font><font style="font-family:inherit;font-size:10pt;">$3.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.9 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">, respectively (</font><a style="font-family:inherit;font-size:10pt;" href="#s3FA5BEF86326508CA99999379096D118"><font style="font-family:inherit;font-size:10pt;">Note 3</font></a><font style="font-family:inherit;font-size:10pt;">).</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present a summary of comparative results and assets for these business segments (in thousands): </font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Net Lease</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Revenues </font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(a) </sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">24,067</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">30,992</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Operating expenses </font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(b)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(20,602</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(17,311</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(6,858</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(8,736</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(3,440</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">43</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Gain on sale of real estate, net</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">897</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Benefit from (provision for) income taxes</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">639</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(360</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(700</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(209</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net (loss) income attributable to CPA:18 &#8211; Global</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(6,894</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">5,316</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Self Storage</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Revenues</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">15,356</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">14,839</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(9,095</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(8,745</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(3,356</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(3,426</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font><font style="font-family:inherit;font-size:9.5pt;">&#160;</font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(c)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(54</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(668</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Provision for income taxes</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(31</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(33</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to CPA:18 &#8211; Global</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">2,820</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">1,967</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Other Operating Properties</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Revenues</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">2,747</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">2,622</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(1,485</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(1,634</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(252</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(120</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">15</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(39</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Gain on sale of real estate, net</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">14,514</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Benefit from (provision for) income taxes</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">14</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(23</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net loss (income) attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">5</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(2,789</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to CPA:18 &#8211; Global</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">1,044</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">12,531</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">All Other</font><font style="font-family:inherit;font-size:9.5pt;">&#160;</font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(d)</sup></font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Revenues</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">710</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">1,833</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(1</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to CPA:18 &#8211; Global</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">710</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">1,832</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Corporate</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Unallocated Corporate Overhead </font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(e)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(3,944</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(4,971</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to noncontrolling interests &#8212; Available Cash Distributions</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(1,916</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(1,848</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Total Company</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Revenues</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">42,880</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">50,294</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Operating expenses&#160;</font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(b)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(36,228</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(32,272</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(10,489</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(12,357</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses) </font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(c)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(2,126</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(476</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Gain on sale of real estate, net</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">15,408</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Benefit from (provision for) income taxes</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">394</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(924</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(2,611</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(4,846</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net (loss) income attributable to CPA:18 &#8211; Global</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(8,180</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">14,827</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Agreements and Transactions with Related Parties</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Transactions with Our Advisor</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We have an advisory agreement with our Advisor whereby our Advisor performs certain services for us under a fee arrangement, including the identification, evaluation, negotiation, purchase, day-to-day management, and disposition of real estate and related assets and mortgage loans. We also reimburse our Advisor for general and administrative duties performed on our behalf. The advisory agreement has a term of </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;"> year and may be renewed for successive </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;">-year periods. We may terminate the advisory agreement upon </font><font style="font-family:inherit;font-size:10pt;">60 days</font><font style="font-family:inherit;font-size:10pt;"> written notice without cause or penalty.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Jointly Owned Investments and Other Transactions with our Affiliates</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, we owned interests ranging from </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;"> in jointly owned investments, with the remaining interests held by affiliates or by third parties. Since no other parties hold any rights that supersede our control, we consolidate all of these joint ventures, with the exception of our sole equity investment (</font><a style="font-family:inherit;font-size:10pt;" href="#sF276B660AE965D83BA1A23819CF7E9EE"><font style="font-family:inherit;font-size:10pt;">Note 4</font></a><font style="font-family:inherit;font-size:10pt;">), which we account for under the equity method of accounting.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present a summary of fees we paid, expenses we reimbursed, and distributions we made to our Advisor and other affiliates in accordance with the terms of the relevant agreements (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Amounts Included in the Condensed Consolidated Statements of&#160;Operations</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Asset management fees</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,002</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,868</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Available Cash Distributions</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,916</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,848</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:18px;text-indent:-18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Personnel and overhead reimbursements</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">725</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">798</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense on deferred acquisition fees and external joint venture loans</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">123</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">127</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:18px;text-indent:-18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Disposition fees</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,117</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,766</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,758</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Fees Capitalized</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current acquisition fees</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">110</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">695</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred acquisition fees</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">88</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">555</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capitalized personnel and overhead reimbursements</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">70</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">89</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,339</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents a summary of amounts included in Due to affiliates in the condensed consolidated financial statements (in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Due to Affiliates</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">External joint venture loans, accounts payable, and other </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,360</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,951</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred acquisition fees, including accrued interest</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,007</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,456</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Asset management fees payable</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,001</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">961</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current acquisition fees</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">118</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,486</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,376</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Includes loans from our joint venture partners to the jointly owned investments that we consolidate. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, loans due to our joint venture partners, including accrued interest, were </font><font style="font-family:inherit;font-size:10pt;">$4.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$4.6 million</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Asset Management Fees</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the advisory agreement, our Advisor is entitled to an annual asset management fee ranging from </font><font style="font-family:inherit;font-size:10pt;">0.5%</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;">1.5%</font><font style="font-family:inherit;font-size:10pt;">, depending on the type of investment and based on the average market value or average equity value, as applicable, of our investments. Asset management fees are payable in cash and/or shares of our Class A common stock. For any portion of fees our Advisor receives in shares, the number of shares issued is determined by dividing the dollar amount of fees by our most recently published estimated net asset value per share (&#8220;NAV&#8221;) per Class A share, which was </font><font style="font-family:inherit;font-size:10pt;">$8.94</font><font style="font-family:inherit;font-size:10pt;"> as of December 31, 2019. Effective </font><font style="font-family:inherit;font-size:10pt;">January&#160;1, 2019</font><font style="font-family:inherit;font-size:10pt;">, our Advisor elected to receive </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;"> of the asset management fees in shares of our Class A common stock and </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;"> in cash. Effective April 1, 2020, our Advisor elected to receive all of the asset management fees in shares of our Class A common stock. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, our Advisor owned </font><font style="font-family:inherit;font-size:10pt;">5,922,928</font><font style="font-family:inherit;font-size:10pt;"> shares, or </font><font style="font-family:inherit;font-size:10pt;">4.0%</font><font style="font-family:inherit;font-size:10pt;">, of our outstanding Class A common stock. Asset management fees are included in Property expenses in the condensed consolidated financial statements. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Acquisition and Disposition Fees</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our Advisor receives acquisition fees, a portion of which is payable upon acquisition, while the remaining portion is subordinated to a preferred return of a non-compounded cumulative distribution of </font><font style="font-family:inherit;font-size:10pt;">5.0%</font><font style="font-family:inherit;font-size:10pt;"> per annum (based initially on our invested capital). The initial acquisition fee and subordinated acquisition fee are </font><font style="font-family:inherit;font-size:10pt;">2.5%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2.0%</font><font style="font-family:inherit;font-size:10pt;">, respectively, of the aggregate total cost of our portion of each investment for all investments, other than those in readily marketable real estate securities purchased in the secondary market, for which our Advisor will not receive any acquisition fees. Deferred acquisition fees are scheduled to be paid in </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> equal annual installments following the quarter in which a property was purchased and are subject to the preferred return described above. The preferred return was achieved as of the periods ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">. The preferred return will continue to be assessed on a cumulative basis for the remainder of the fiscal year. Unpaid installments of deferred acquisition fees are included in Due to affiliates in the condensed consolidated financial statements and bear interest at an annual rate of </font><font style="font-family:inherit;font-size:10pt;">2.0%</font><font style="font-family:inherit;font-size:10pt;">. The cumulative total acquisition costs, including acquisition fees paid to the advisor, may not exceed </font><font style="font-family:inherit;font-size:10pt;">6.0%</font><font style="font-family:inherit;font-size:10pt;"> of the aggregate contract purchase price of all investments, which is measured at the end of each year. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, prior to January 1, 2020, our Advisor was entitled to receive a disposition fee equal to the lesser of (i)&#160;</font><font style="font-family:inherit;font-size:10pt;">50.0%</font><font style="font-family:inherit;font-size:10pt;"> of the competitive real estate commission (as defined in the advisory agreement) or (ii)&#160;</font><font style="font-family:inherit;font-size:10pt;">3.0%</font><font style="font-family:inherit;font-size:10pt;"> of the contract sales price of the investment being sold. These fees were paid at the discretion of our board of directors. Effective January 1, 2020, the Advisor has waived its right to disposition fees with respect to sales and dispositions of single investments and portfolios of investments. The Advisor may still be entitled to disposition fees in connection with a transaction or series of transactions related to a merger, liquidation, or other event, at the discretion of our board of directors.&#160; </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Personnel and Overhead Reimbursements</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Under the terms of the advisory agreement, our Advisor allocates a portion of its personnel and overhead expenses to us and the other entities that are managed by WPC and its affiliates, which as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> included Carey Watermark Investors Incorporated, Carey Watermark Investors 2 Incorporated, and Carey European Student Housing Fund I L.P. (collectively with us, the &#8220;Managed Programs&#8221;). </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We reimburse our Advisor for the allocated costs of personnel and overhead in managing our day-to-day operations, including accounting services, stockholder services, corporate management, and property management and operations. In addition, we reimburse our Advisor for various expenses it incurs in the course of providing services to us. We reimburse certain third-party expenses paid by our Advisor on our behalf, including property-specific costs, professional fees, office expenses, and business development expenses. We do not reimburse our Advisor for salaries and benefits paid to our named executive officers or for the cost of personnel that provide services for transactions for where our Advisor receives a fee (such as for acquisitions and dispositions). Under the advisory agreement, the amount of applicable personnel costs allocated to us is capped at </font><font style="font-family:inherit;font-size:10pt;">1.0%</font><font style="font-family:inherit;font-size:10pt;"> of our pro rata total revenues for each of 2020 and 2019. Our Advisor allocates overhead expenses to us based upon the percentage that our full-time employee equivalents comprised of the Advisor&#8217;s total full-time employee equivalents. Costs related to our Advisor&#8217;s legal transactions group are based on a schedule of expenses relating to services performed for different types of transactions, such as financing, lease amendments, and dispositions, among other categories, and includes </font><font style="font-family:inherit;font-size:10pt;">0.25%</font><font style="font-family:inherit;font-size:10pt;"> of the total investment cost of an acquisition. In general, personnel and overhead reimbursements are included in General and administrative expenses in the condensed consolidated financial statements. However, we capitalize certain costs related to our Advisor&#8217;s legal transactions group if the costs relate to an asset acquisition or other transactions.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Excess Operating Expenses</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our Advisor is obligated to reimburse us for the amount by which our operating expenses exceeds the &#8220;</font><font style="font-family:inherit;font-size:10pt;">2%</font><font style="font-family:inherit;font-size:10pt;">/</font><font style="font-family:inherit;font-size:10pt;">25%</font><font style="font-family:inherit;font-size:10pt;"> guidelines&#8221; (the greater of </font><font style="font-family:inherit;font-size:10pt;">2%</font><font style="font-family:inherit;font-size:10pt;"> of average invested assets or </font><font style="font-family:inherit;font-size:10pt;">25%</font><font style="font-family:inherit;font-size:10pt;"> of net income) as defined in the advisory agreement for any 12-month period, subject to certain conditions. For the most recent trailing four quarters, our operating expenses were below this threshold.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Available Cash Distributions</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WPC&#8217;s interest in the Operating Partnership entitles it to receive distributions of up to </font><font style="font-family:inherit;font-size:10pt;">10.0%</font><font style="font-family:inherit;font-size:10pt;"> of the available cash generated by the Operating Partnership (&#8220;the Available Cash Distribution&#8221;), which is defined as cash generated from operations, excluding capital proceeds, as reduced by operating expenses and debt service, excluding prepayments and balloon payments. Available Cash Distributions are included in Net income attributable to noncontrolling interests in the condensed consolidated financial statements.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the condensed consolidated statements of cash flows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">104,939</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">144,148</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Restricted cash </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,963</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,250</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total cash and cash equivalents and restricted cash</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">131,902</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">163,398</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Restricted cash is included within Accounts receivable and other assets, net on our condensed consolidated balance sheets.</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present the impact of our derivative instruments in the condensed consolidated financial statements (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="9" rowspan="1"></td></tr><tr><td style="width:68%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount&#160;of&#160;Loss Recognized on Derivatives in Other&#160;Comprehensive&#160;Loss</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives&#160;in&#160;Cash&#160;Flow&#160;Hedging&#160;Relationships&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,617</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(887</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,140</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">805</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(207</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(157</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate caps</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(139</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives in Net Investment Hedging Relationship </font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(a)</sup></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">149</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,674</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(237</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The changes in fair value and the settlement of these contracts are reported in the foreign currency translation adjustment section of </font><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss</font><font style="font-family:inherit;font-size:10pt;">.</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:32%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:35%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount&#160;of&#160;Gain on Derivatives Reclassified&#160;from Other&#160;Comprehensive&#160;Loss into&#160;Income</font></div></td></tr><tr><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives&#160;in&#160;Cash&#160;Flow Hedging&#160;Relationships&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Location of Gain (Loss) Recognized in Income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">278</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">346</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(179</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">27</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">119</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate caps</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(17</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">201</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">381</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the impact of our derivative instruments in the condensed consolidated financial statements (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:32%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:35%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Amount&#160;of&#160;Gain on Derivatives Recognized&#160;in Income </font></div></td></tr><tr><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives&#160;Not in&#160;Cash&#160;Flow Hedging&#160;Relationships&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Location of Gain (Loss) Recognized in Income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">81</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">118</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives&#160;in Cash Flow Hedging Relationships</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">179</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">275</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">124</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table sets forth certain information regarding our derivative instruments (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="19" rowspan="1"></td></tr><tr><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:19%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives Designated as Hedging Instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td rowspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Balance Sheet Location</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivative Assets Fair Value at</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivative Liabilities Fair Value at</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable and other assets, net</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,518</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,444</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable and other assets, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">654</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">861</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate caps</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable and other assets, net</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">116</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts receivable and other assets, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts payable, accrued expenses and other liabilities</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,555</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,991</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,209</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,474</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,555</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,991</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives Not Designated as Hedging Instruments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts payable, accrued expenses and other liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(37</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(48</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(37</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(48</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total derivatives</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,209</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,474</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,592</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,039</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents the foreign currency derivative contracts we had outstanding and their designations as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> (currency in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:47%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Foreign Currency Derivatives</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Number of Instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Notional<br clear="none"/>Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair&#160;Value&#160;at<br clear="none"/>March 31, 2020</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Designated as Cash Flow Hedging Instruments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #cceeff;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #cceeff;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #cceeff;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,152</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EUR</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,665</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collars</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,660</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOK</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">801</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency forward contracts </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,006</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EUR</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">654</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Designated as Net Investment Hedging Instruments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Foreign currency collar</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,500</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">NOK</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,172</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The interest rate swaps and caps that our consolidated subsidiaries had outstanding as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> are summarized as follows (currency in thousands):</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="11" rowspan="1"></td></tr><tr><td style="width:47%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:16%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:8%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:9%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interest Rate Derivatives</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Number of Instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Notional<br clear="none"/>Amount</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair&#160;Value&#160;at</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31,&#160;2020 </font><font style="font-family:inherit;font-size:8pt;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(a)</sup></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swaps </font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92,008</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">USD</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,555</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate cap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,975</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EUR</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate caps</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">59,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">GBP</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate cap</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,700</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">USD</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Derivatives Not Designated as Hedging Instruments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest rate swap</font><font style="font-family:inherit;font-size:8pt;">&#160;</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(b)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,183</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EUR</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(37</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,555</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value amount is based on the exchange rate of the respective currencies as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, as applicable.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This interest rate swap does not qualify for hedge accounting; however, it does protect against fluctuations in interest rates related to the underlying variable-rate debt.</font></div></td></tr></table><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents (loss) earnings per share (in thousands, except share and per share amounts):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="22" rowspan="1"></td></tr><tr><td style="width:23%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="21" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="10" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="10" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Basic and Diluted Weighted-Average <br clear="none"/>Shares Outstanding</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Allocation of Net Loss</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Basic and Diluted Loss Per&#160;Share&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Basic and Diluted Weighted-Average <br clear="none"/>Shares Outstanding</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Allocation of Net Income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Basic and Diluted Earnings Per&#160;Share&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Class A common stock</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">117,968,262</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,398</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.05</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">115,497,094</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,654</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.10</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Class C common stock</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,445,640</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,782</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.05</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,879,027</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,173</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.10</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net (loss) income attributable to CPA:18 &#8211; Global</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,180</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,827</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Scheduled debt principal payments during the remainder of 2020, each of the next four calendar years following </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, and thereafter are as follows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="5" rowspan="1"></td></tr><tr><td style="width:82%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:15%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Years&#160;Ending&#160;December&#160;31,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2020 (remainder)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">59,686</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2021</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">151,979</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">189,208</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2023</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">203,916</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2024</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">198,335</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Thereafter through 2039</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">385,187</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total principal payments</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,188,311</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unamortized deferred financing costs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,244</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unamortized premium, net</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,315</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,183,382</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating real estate, which consists of our self-storage and student housing properties, is summarized as follows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Land</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">77,704</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">78,240</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Buildings and improvements</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">427,622</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">434,245</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: Accumulated depreciation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(60,743</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(57,237</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:1pt;"><font style="font-family:inherit;font-size:1pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">444,583</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">455,248</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Real estate, which consists of land and buildings leased to others, which are subject to operating leases, is summarized as follows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Land</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">185,556</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">196,693</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Buildings and improvements</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">972,941</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,003,952</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less: Accumulated depreciation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(138,269</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(135,922</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,020,228</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,064,723</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present a summary of fees we paid, expenses we reimbursed, and distributions we made to our Advisor and other affiliates in accordance with the terms of the relevant agreements (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Amounts Included in the Condensed Consolidated Statements of&#160;Operations</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Asset management fees</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,002</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,868</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Available Cash Distributions</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,916</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,848</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:18px;text-indent:-18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Personnel and overhead reimbursements</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">725</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">798</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense on deferred acquisition fees and external joint venture loans</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">123</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">127</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:18px;text-indent:-18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Disposition fees</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,117</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,766</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,758</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisition Fees Capitalized</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current acquisition fees</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">110</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">695</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred acquisition fees</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">88</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">555</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Capitalized personnel and overhead reimbursements</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">70</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">89</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">268</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,339</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents a summary of amounts included in Due to affiliates in the condensed consolidated financial statements (in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Due to Affiliates</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">External joint venture loans, accounts payable, and other </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,360</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,951</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred acquisition fees, including accrued interest</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,007</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,456</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Asset management fees payable</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,001</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">961</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current acquisition fees</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">118</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,486</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,376</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">___________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Includes loans from our joint venture partners to the jointly owned investments that we consolidate. As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, loans due to our joint venture partners, including accrued interest, were </font><font style="font-family:inherit;font-size:10pt;">$4.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$4.6 million</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></td></tr></table></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the condensed consolidated statements of cash flows (in thousands):</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">104,939</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">144,148</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Restricted cash </font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">(a)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,963</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,250</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total cash and cash equivalents and restricted cash</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">131,902</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">163,398</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Restricted cash is included within Accounts receivable and other assets, net on our condensed consolidated balance sheets.</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents a summary of selected financial data of the consolidated VIEs included in the condensed consolidated balance sheets (in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March 31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Real estate &#8212; Land, buildings and improvements </font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">343,342</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">359,886</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Real estate under construction</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">267,044</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">233,220</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In-place lease intangible assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">98,588</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">101,198</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accumulated depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(79,634</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(78,598</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">661,082</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">642,648</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-recourse secured debt, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">287,069</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">276,124</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">342,183</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">330,549</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Segment Reporting</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We operate in three reportable business segments: Net Lease, Self Storage, and Other Operating Properties. Our Net Lease segment includes our investments in net-leased properties, whether they are accounted for as operating leases or direct financing leases. Our Self Storage segment is comprised of our investments in self-storage properties. Our Other Operating Properties segment is primarily comprised of our investments in student housing operating properties and multi-family residential properties (our last multi-family residential property was sold in January 2019). In addition, we have an All Other category that includes our notes receivable investments</font><font style="font-family:inherit;font-size:10pt;">, one of which was repaid during the second quarter of 2019. The following tables present a summary of comparative results and assets for these business segments (in thousands): </font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Net Lease</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Revenues </font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(a) </sup></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">24,067</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">30,992</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Operating expenses </font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(b)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(20,602</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(17,311</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(6,858</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(8,736</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(3,440</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">43</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Gain on sale of real estate, net</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">897</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Benefit from (provision for) income taxes</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">639</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(360</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(700</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(209</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net (loss) income attributable to CPA:18 &#8211; Global</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(6,894</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">5,316</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Self Storage</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Revenues</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">15,356</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">14,839</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(9,095</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(8,745</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(3,356</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(3,426</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font><font style="font-family:inherit;font-size:9.5pt;">&#160;</font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(c)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(54</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(668</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Provision for income taxes</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(31</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(33</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to CPA:18 &#8211; Global</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">2,820</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">1,967</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Other Operating Properties</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Revenues</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">2,747</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">2,622</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(1,485</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(1,634</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(252</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(120</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">15</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(39</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Gain on sale of real estate, net</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">14,514</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Benefit from (provision for) income taxes</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">14</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(23</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net loss (income) attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">5</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(2,789</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to CPA:18 &#8211; Global</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">1,044</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">12,531</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">All Other</font><font style="font-family:inherit;font-size:9.5pt;">&#160;</font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(d)</sup></font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Revenues</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">710</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">1,833</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(1</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to CPA:18 &#8211; Global</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">710</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">1,832</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Corporate</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Unallocated Corporate Overhead </font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(e)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(3,944</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(4,971</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to noncontrolling interests &#8212; Available Cash Distributions</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(1,916</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(1,848</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;font-weight:bold;">Total Company</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Revenues</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">42,880</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">50,294</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Operating expenses&#160;</font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(b)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(36,228</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(32,272</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(10,489</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(12,357</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses) </font><font style="font-family:inherit;font-size:9.5pt;"><sup style="vertical-align:top;line-height:120%;font-size:pt">(c)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(2,126</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(476</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Gain on sale of real estate, net</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">15,408</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Benefit from (provision for) income taxes</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">394</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(924</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net income attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(2,611</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(4,846</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">Net (loss) income attributable to CPA:18 &#8211; Global</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">(8,180</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:9.5pt;"><font style="font-family:inherit;font-size:9.5pt;">14,827</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:69%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total&#160;Assets</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net Lease</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,463,826</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,517,659</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Self Storage</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">365,907</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">369,883</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other Operating Properties</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">215,628</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">213,692</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Corporate</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76,018</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">105,407</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,165</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,162</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total Company</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,149,544</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,234,803</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:4px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">__________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;"> includes straight-line rent amortization of </font><font style="font-family:inherit;font-size:10pt;">$0.7 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$0.9 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. The </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> includes a </font><font style="font-family:inherit;font-size:10pt;">$7.0 million</font><font style="font-family:inherit;font-size:10pt;"> write-off of straight-line rent receivables (</font><a style="font-family:inherit;font-size:10pt;" href="#sE345805CB89251F8839D1DD4C526E9D4"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;">). Straight-line lease revenue is only recognized when deemed probable of collection, and is included within Lease revenues &#8212; net-leased within our condensed consolidated financial statements.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> includes an allowance for credit loss of </font><font style="font-family:inherit;font-size:10pt;">$4.9 million</font><font style="font-family:inherit;font-size:10pt;"> in connection with our adoption of ASU 2016-13 (</font><a style="font-family:inherit;font-size:10pt;" href="#sE345805CB89251F8839D1DD4C526E9D4"><font style="font-family:inherit;font-size:10pt;">Note 2</font></a><font style="font-family:inherit;font-size:10pt;">). </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Includes Equity in losses of equity method investment in real estate.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(d)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in the all other category are our notes receivable investments, one of which was repaid during the second quarter of 2019.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(e)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in unallocated corporate overhead are expenses and other gains and (losses) that are calculated and reported at the portfolio level and not evaluated as part of any segment&#8217;s operating performance. Such items include asset management fees, general and administrative expenses, and gains and losses on foreign currency transactions and derivative instruments. Asset management fees totaled </font><font style="font-family:inherit;font-size:10pt;">$3.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$2.9 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2019</font><font style="font-family:inherit;font-size:10pt;">, respectively (</font><a style="font-family:inherit;font-size:10pt;" href="#s3FA5BEF86326508CA99999379096D118"><font style="font-family:inherit;font-size:10pt;">Note 3</font></a><font style="font-family:inherit;font-size:10pt;">).</font></div></td></tr></table></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Earnings Per Share and Equity</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Basic and Diluted (Loss) Earnings Per Share</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table presents (loss) earnings per share (in thousands, except share and per share amounts):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="22" rowspan="1"></td></tr><tr><td style="width:23%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:10%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="21" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="10" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="10" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Basic and Diluted Weighted-Average <br clear="none"/>Shares Outstanding</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Allocation of Net Loss</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Basic and Diluted Loss Per&#160;Share&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Basic and Diluted Weighted-Average <br clear="none"/>Shares Outstanding</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Allocation of Net Income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Basic and Diluted Earnings Per&#160;Share&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Class A common stock</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">117,968,262</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,398</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.05</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">115,497,094</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,654</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.10</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Class C common stock</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,445,640</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,782</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(0.05</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,879,027</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,173</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.10</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net (loss) income attributable to CPA:18 &#8211; Global</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,180</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,827</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The allocation of Net (loss) income attributable to CPA:18 &#8211; Global is calculated based on the basic and diluted weighted-average shares outstanding for Class A and Class C common stock for each respective period. The Class C common stock allocation includes interest expense related to the accretion of interest on the annual distribution and shareholder servicing fee liability of less than </font><font style="font-family:inherit;font-size:10pt;">$0.1 million</font><font style="font-family:inherit;font-size:10pt;"> for both the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2019</font><font style="font-family:inherit;font-size:10pt;">, respectively (</font><a style="font-family:inherit;font-size:10pt;" href="#s3FA5BEF86326508CA99999379096D118"><font style="font-family:inherit;font-size:10pt;">Note 3</font></a><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Distributions</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the three months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, our board of directors declared quarterly distributions of </font><font style="font-family:inherit;font-size:10pt;">$0.1563</font><font style="font-family:inherit;font-size:10pt;"> per share for our Class A common stock a</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">nd</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;"> </font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">$0.1382</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;"> </font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;">per share for</font><font style="font-family:inherit;font-size:10pt;background-color:#ffffff;"> </font><font style="font-family:inherit;font-size:10pt;">our Class C common stock, which were paid on </font><font style="font-family:inherit;font-size:10pt;">April&#160;15, 2020</font><font style="font-family:inherit;font-size:10pt;"> to stockholders of record on </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">, in the amount of </font><font style="font-family:inherit;font-size:10pt;">$22.8 million</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Reclassifications Out of Accumulated Other Comprehensive Loss</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following tables present a reconciliation of changes in Accumulated other comprehensive loss by component for the periods presented (in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12" rowspan="1"></td></tr><tr><td style="width:59%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31, 2020</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gains and (Losses) on&#160;Derivative Instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Foreign Currency Translation Adjustments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">138</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(56,673</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(56,535</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:30px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss before reclassifications</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,622</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24,082</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(25,704</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:30px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amounts reclassified from accumulated other comprehensive loss to:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(397</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(397</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">196</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">196</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net current-period other comprehensive loss</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,823</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24,082</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(25,905</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net current-period other comprehensive loss attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,528</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,528</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ending balance</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,685</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(78,227</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(79,912</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12" rowspan="1"></td></tr><tr><td style="width:59%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:11%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Three Months Ended March 31, 2019</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Gains and (Losses) on&#160;Derivative Instruments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Foreign Currency Translation Adjustments</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beginning balance</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,215</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(52,808</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(50,593</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:30px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss before reclassifications</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">143</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,242</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,099</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:30px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amounts reclassified from accumulated other comprehensive loss&#160;to:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other gains and (losses)</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(357</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(357</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:36px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net current-period other comprehensive loss</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(238</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,242</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,480</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net current-period other comprehensive loss attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">158</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">158</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Ending balance</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,977</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(56,892</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(54,915</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">See </font><a style="font-family:inherit;font-size:10pt;" href="#s5F5AA129AB68575C8BA012180D2459D2"><font style="font-family:inherit;font-size:10pt;">Note 8</font></a><font style="font-family:inherit;font-size:10pt;"> for additional information on our derivative activity recognized within </font><font style="font-family:inherit;font-size:10pt;">Other comprehensive loss</font><font style="font-family:inherit;font-size:10pt;"> for the periods presented.</font></div></div> <div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Subsequent Events</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The global spread of COVID-19 has created significant uncertainty and economic disruption, both in the near-term and potentially longer-term. The extent to which this pandemic could affect our financial condition, liquidity, and results of operations is difficult to predict and depends on evolving factors, including: duration, scope, government actions, and other social responses.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our advisor is closely monitoring the impact of COVID-19 on all aspects of our business, including how it will impact our portfolio and tenant credit health (including our tenants&#8217; ability to pay rent) as well as our liquidity, capital allocation, and balance sheet management. Our advisor continues to actively engage in discussions with our tenants and with the third-party managers of our operating properties regarding the impact of COVID-19 on business operations, liquidity, prospects, and financial position. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The extent to which the COVID-19 pandemic impacts our operations and those of our tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity, and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others.</font></div></div> See Note 2 for details related to variable interest entities (“VIEs”). EX-101.SCH 7 cpa18-20200331.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2104100 - Disclosure - Agreements and Transactions with Related Parties link:presentationLink link:calculationLink link:definitionLink 2404404 - Disclosure - Agreements and Transactions with Related Parties - Due to Affiliates (Details) link:presentationLink link:calculationLink link:definitionLink 2404402 - Disclosure - Agreements and Transactions with Related Parties - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2404403 - Disclosure - Agreements and Transactions with Related Parties - Related Party Income (Details) link:presentationLink link:calculationLink link:definitionLink 2304301 - Disclosure - Agreements and Transactions with Related Parties (Tables) link:presentationLink link:calculationLink link:definitionLink 2103100 - Disclosure - Basis of Presentation link:presentationLink link:calculationLink link:definitionLink 2303302 - Disclosure - Basis of Presentation Basis of Presentation (Tables) link:presentationLink link:calculationLink link:definitionLink 2403406 - Disclosure - Basis of Presentation - Cash, Cash Equivalents, and Restricted Cash Equivalents Reconciliation (Details) link:presentationLink link:calculationLink link:definitionLink 2403405 - Disclosure - Basis of Presentation - Foreign Currencies (Details) link:presentationLink link:calculationLink link:definitionLink 2403403 - Disclosure - Basis of Presentation - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2203201 - Disclosure - Basis of Presentation (Policies) link:presentationLink link:calculationLink link:definitionLink 2403404 - Disclosure - Basis of Presentation - Variable Interest Entity Disclosure (Details) link:presentationLink link:calculationLink link:definitionLink 2112100 - Disclosure - Commitments and Contingencies link:presentationLink link:calculationLink link:definitionLink 1001000 - Statement - Condensed Consolidated Balance Sheets (Unaudited) link:presentationLink link:calculationLink link:definitionLink 1001501 - Statement - Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) link:presentationLink link:calculationLink link:definitionLink 1005000 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 1003000 - Statement - Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) link:presentationLink link:calculationLink link:definitionLink 1004000 - Statement - Condensed Consolidated Statements of Equity (Unaudited) link:presentationLink link:calculationLink link:definitionLink 1004501 - Statement - Condensed Consolidated Statements of Equity (Unaudited) (Parentheticals) link:presentationLink link:calculationLink link:definitionLink 1002000 - Statement - Condensed Consolidated Statements of Operations (Unaudited) link:presentationLink link:calculationLink link:definitionLink 1002501 - Statement - Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) link:presentationLink link:calculationLink link:definitionLink 0001000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 2109100 - Disclosure - Fair Value Measurements link:presentationLink link:calculationLink link:definitionLink 2409403 - Disclosure - Fair Value Measurements - Carrying Value and Fair Value Measurements (Details) link:presentationLink link:calculationLink link:definitionLink 2409402 - Disclosure - Fair Value Measurements - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2309301 - Disclosure - Fair Value Measurements (Tables) link:presentationLink link:calculationLink link:definitionLink 2107100 - Disclosure - Finance Receivables link:presentationLink link:calculationLink link:definitionLink 2407404 - Disclosure - Finance Receivables - Internal Credit Quality Rating (Details) link:presentationLink link:calculationLink link:definitionLink 2407402 - Disclosure - Finance Receivables - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2407403 - Disclosure - Finance Receivables - Net Investments in Direct Financing Leases (Details) link:presentationLink link:calculationLink link:definitionLink 2307301 - Disclosure - Finance Receivables (Tables) link:presentationLink link:calculationLink link:definitionLink 2108100 - Disclosure - Intangible Assets and Liabilities link:presentationLink link:calculationLink link:definitionLink 2408403 - Disclosure - Intangible Assets and Liabilities - Intangible Assets and Liabilities Summary (Details) link:presentationLink link:calculationLink link:definitionLink 2408402 - Disclosure - Intangible Assets and Liabilities - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2308301 - Disclosure - Intangible Assets and Liabilities (Tables) link:presentationLink link:calculationLink link:definitionLink 2113100 - Disclosure - (Loss) Earnings Per Share and Equity link:presentationLink link:calculationLink link:definitionLink 2413403 - Disclosure - (Loss) Earnings Per Share and Equity - Basic and Diluted Loss Per Share (Details) link:presentationLink link:calculationLink link:definitionLink 2413402 - Disclosure - (Loss) Earnings Per Share and Equity - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2413404 - Disclosure - (Loss) Earnings Per Share and Equity - Reclassifications Out of Accumulated Other Comprehensive Loss (Details) link:presentationLink link:calculationLink link:definitionLink 2313301 - Disclosure - (Loss) Earnings Per Share and Equity (Tables) link:presentationLink link:calculationLink link:definitionLink 2111100 - Disclosure - Non-Recourse Secured Debt, Net link:presentationLink link:calculationLink link:definitionLink 2411402 - Disclosure - Non-Recourse Secured Debt, Net - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2411403 - Disclosure - Non-Recourse Secured Debt, Net - Schedule of Debt Principal Payments (Details) link:presentationLink link:calculationLink link:definitionLink 2311301 - Disclosure - Non-Recourse Secured Debt, Net (Tables) link:presentationLink link:calculationLink link:definitionLink 2101100 - Disclosure - Organization link:presentationLink link:calculationLink link:definitionLink 2401401 - Disclosure - Organization - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2105100 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate link:presentationLink link:calculationLink link:definitionLink 2405402 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2405404 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Operating Lease Income (Details) link:presentationLink link:calculationLink link:definitionLink 2405403 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Property Plant and Equipment (Details) link:presentationLink link:calculationLink link:definitionLink 2405405 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Rollforward of Real Estate Under Construction (Details) link:presentationLink link:calculationLink link:definitionLink 2305301 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate (Tables) link:presentationLink link:calculationLink link:definitionLink 2110100 - Disclosure - Risk Management and Use of Derivative Financial Instruments link:presentationLink link:calculationLink link:definitionLink 2410405 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Reclassified From OCI (Details) link:presentationLink link:calculationLink link:definitionLink 2410406 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Recognized in Income (Details) link:presentationLink link:calculationLink link:definitionLink 2410404 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Recognized in OCI (Details) link:presentationLink link:calculationLink link:definitionLink 2410408 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Foreign Currency Derivatives Details (Details) link:presentationLink link:calculationLink link:definitionLink 2410403 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Information Regarding Derivative Instruments (Details) link:presentationLink link:calculationLink link:definitionLink 2410407 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Interest Rate Swap and Caps Summary (Details) link:presentationLink link:calculationLink link:definitionLink 2410402 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2310301 - Disclosure - Risk Management and Use of Derivative Financial Instruments (Tables) link:presentationLink link:calculationLink link:definitionLink 2114100 - Disclosure - Segment Reporting link:presentationLink link:calculationLink link:definitionLink 2414403 - Disclosure - Segment Reporting - Income Statement (Details) link:presentationLink link:calculationLink link:definitionLink 2414402 - Disclosure - Segment Reporting - Narratives (Details) link:presentationLink link:calculationLink link:definitionLink 2414404 - Disclosure - Segment Reporting - Segment Assets (Details) link:presentationLink link:calculationLink link:definitionLink 2314301 - Disclosure - Segment Reporting (Tables) link:presentationLink link:calculationLink link:definitionLink 2115100 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 cpa18-20200331_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT EX-101.DEF 9 cpa18-20200331_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.LAB 10 cpa18-20200331_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Statement of Cash Flows [Abstract] Cash Flows — Operating Activities Net Cash Provided by (Used in) Operating Activities [Abstract] Net Cash Provided by Operating Activities Net Cash Provided by (Used in) Operating Activities Cash Flows — Investing Activities Net Cash Provided by (Used in) Investing Activities [Abstract] Funding for development projects Payments for Construction in Process Value added taxes paid in connection with construction funding Vat Paid In Connection With Acquisition Of Real Estate Value added tax paid in connection with investments in foreign properties. Capital expenditures on real estate Payments to Develop Real Estate Assets Payment of deferred acquisition fees to an affiliate Payment Of Deferred Acquisition Fees To Affiliate Total cash payment made to the advisor for asset acquisitions during the reporting period for structuring transactions on behalf of the reporting entity. Return of capital from equity investments Proceeds from Equity Method Investment, Distribution, Return of Capital Capital contributions to equity investment Payments to Acquire Equity Method Investments Value added taxes refunded in connection with construction funding VAT refunded in connection with acquisitions in real estate VAT refunded to the Company in connection with acquisitions in real estate. Proceeds from sale of real estate Proceeds from Sale of Real Estate Held-for-investment Net Cash Used in Investing Activities Net Cash Provided by (Used in) Investing Activities Cash Flows — Financing Activities Net Cash Provided by (Used in) Financing Activities [Abstract] Proceeds from mortgage financing Proceeds from Issuance of Secured Debt Distributions paid Payments of Ordinary Dividends, Common Stock Proceeds from issuance of shares Proceeds from Issuance of Common Stock Repurchase of shares Payments for Repurchase of Common Stock Scheduled payments and prepayments of mortgage principal Repayments of Secured Debt Distributions to noncontrolling interests Payments to Noncontrolling Interests Contributions from noncontrolling interests Proceeds from Noncontrolling Interests Other financing activities, net Proceeds from (Payments for) Other Financing Activities Net Cash Used in Financing Activities Net Cash Provided by (Used in) Financing Activities Change in Cash and Cash Equivalents and Restricted Cash During the Period Cash and Cash Equivalents, Period Increase (Decrease) [Abstract] Effect of exchange rate changes on cash and cash equivalents and restricted cash Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents Net decrease in cash and cash equivalents and restricted cash Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect Cash and cash equivalents and restricted cash, beginning of period Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents Cash and cash equivalents and restricted cash, end of period Earnings Per Share [Abstract] Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table] Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table] Class of Stock [Axis] Class of Stock [Axis] Class of Stock [Domain] Class of Stock [Domain] Class A common stock Common Class A [Member] Class C common stock Common Class C [Member] Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] Basic and Diluted Earnings Per Share, Basic and Diluted [Abstract] Weighted-Average Shares Outstanding (shares) Weighted Average Number of Shares Outstanding, Basic and Diluted Allocation of Net (Loss) Income Net Income (Loss) Attributable to Parent Basic and diluted (loss) earnings per share (in dollars per share) Earnings Per Share, Basic and Diluted Real Estate [Abstract] Schedule of Real Estate Properties [Table] Schedule of Real Estate Properties [Table] Real Estate Property Ownership [Axis] Real Estate Property Ownership [Axis] Real Estate Properties [Domain] Real Estate Properties [Domain] Real Estate Real Estate [Member] Operating Real Estate Operating Real Estate [Member] Assets or investments located within Operating real estate on the consolidated balance sheet. Build To Suit Projects New Build To Suit Projects [Member] New Build To Suit Projects [Member] Equity method investments Equity Method Investments [Member] Income Statement Location [Axis] Income Statement Location [Axis] Income Statement Location [Domain] Income Statement Location [Domain] Lease revenues- net-leased Lease Revenue Net Leased [Member] Lease Revenue Net Leased [Member] Noncash investing Noncash [Member] Noncash [Member] Segments [Axis] Segments [Axis] Segments [Domain] Segments [Domain] Self Storage Self Storage [Member] Self Storage Asset Class [Axis] Asset Class [Axis] Asset Class [Domain] Asset Class [Domain] Real Estate Properties Real Estate Properties [Line Items] Decrease due to exchange rate fluctuation Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax Depreciation expense Depreciation Accounts receivable written off during the period Accounts Receivable, Allowance for Credit Loss, Writeoff Interest income from direct financing lease Direct Financing Lease, Interest Income Accrued liabilities Accrued Liabilities Capitalized interest Interest Costs Capitalized Number of BTS projects Number Of Construction Projects During Period The number of construction projects currently in progress. Unfunded commitment Unfunded Commitment Amount of commitment unfunded as of the balance sheet date. Number of properties Number of Real Estate Properties Equity method investments ownership (percent) Equity Method Investment, Ownership Percentage Equity investment in real estate Equity Method Investments Equity method investment, liabilities Equity Method Investment, Summarized Financial Information, Noncurrent Liabilities Statement of Stockholders' Equity [Abstract] Statement [Table] Statement [Table] Statement Equity Components [Axis] Equity Components [Axis] Equity Component [Domain] Equity Component [Domain] Total CPA:18 – Global Stockholders Parent [Member] Common Stock Common Stock [Member] Additional Paid-In Capital Additional Paid-in Capital [Member] Distributions and Accumulated Losses Accumulated Distributions in Excess of Net Income [Member] Accumulated Other Comprehensive Loss AOCI Attributable to Parent [Member] Noncontrolling Interests Noncontrolling Interest [Member] Class of Stock [Domain] Class A Class C Adjustments for New Accounting Pronouncements [Axis] Adjustments for New Accounting Pronouncements [Axis] Type of Adoption [Domain] Type of Adoption [Domain] ASU 2016-13 Accounting Standards Update 2016-13 [Member] ASU 2016-02 Accounting Standards Update 2016-02 [Member] Cumulative Effect Period Of Adoption [Axis] Cumulative Effect Period Of Adoption [Axis] Cumulative Effect Period Of Adoption [Axis] Cumulative Effect Period Of Adoption [Domain] Cumulative Effect Period Of Adoption [Domain] [Domain] for Cumulative Effect Period Of Adoption [Axis] Cumulative Effect, Period of Adoption, Adjustments Cumulative Effect, Period of Adoption, Adjustment [Member] Cumulative Effect, Period of Adoption, Adjustment [Member] Statement [Line Items] Statement [Line Items] Statements of Equity Increase (Decrease) in Stockholders' Equity [Roll Forward] Beginning equity balance, value Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Beginning equity balance, shares Common Stock, Shares, Outstanding Shares issued, value Stock Issued During Period, Value, New Issues Shares issued, shares Stock Issued During Period, Shares, New Issues Shares issued to affiliate, value Stock Issued During Period, Value, Other Shares issued to affiliate, shares Stock Issued During Period, Shares, Other Contributions from noncontrolling interests Noncontrolling Interest, Increase from Subsidiary Equity Issuance Distributions to noncontrolling interests Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders Distributions declared Dividends Net (Loss) Income Net Income (Loss), Including Portion Attributable to Noncontrolling Interest Other comprehensive (loss) income: Other Comprehensive Income (Loss), Net of Tax [Abstract] Foreign currency translation adjustments Unrealized gain (loss) on derivative instruments Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax Repurchase of shares, value Stock Repurchased During Period, Value Repurchase of shares, shares Stock Repurchased During Period, Shares Ending equity balance, value Ending equity balance, shares Segment Reporting [Abstract] Schedule of Segment Reporting Information, by Segment [Table] Schedule of Segment Reporting Information, by Segment [Table] Lease revenues — net-leased Net Lease Net Lease Segment [Member] Net Lease Segment [Member] Consolidation Items [Axis] Consolidation Items [Axis] Consolidation Items [Domain] Consolidation Items [Domain] Operating Segments Operating Segments [Member] Product and Service [Axis] Product and Service [Axis] Product and Service [Domain] Product and Service [Domain] Asset management fees Asset Management [Member] Segment Reporting Information Segment Reporting Information [Line Items] Number of reportable segments Number of Reportable Segments Straight line rent adjustment Straight Line Rent Adjustments Allowance for credit losses Provision for Loan, Lease, and Other Losses Asset management fees Asset management Fees to Affiliates The costs related to asset management fees paid to affiliates during the reporting period. Organization, Consolidation and Presentation of Financial Statements [Abstract] Organization and Offering Organization [Abstract] Organization [Abstract] Organization And Offering [Table] Organization And Offering [Table] -- None. No documentation exists for this element. -- Real Estate, Type of Property [Axis] Real Estate, Type of Property [Axis] Real Estate [Domain] Real Estate [Domain] Other Operating Properties Multifamily [Member] Name of Property [Axis] Name of Property [Axis] Name of Property [Domain] Name of Property [Domain] Twelve Student Housing Developments Twelve Student Housing Developments [Member] Twelve Student Housing Developments [Member] Three Student Housing Operating Properties Three Student Housing Operating Properties [Member] Three Student Housing Operating Properties [Member] Organization and Offering [Line Items] Organization and Offering [Line Items] Organization and Offering [Line Items] Public Offering Offering [Abstract] Offering [Abstract] Capital interest ownership in operating partnership (percent) Capital Interest In Operating Partnership The percentage of capital interest in the Operating Partnership by the general partner. Additional Disclosures Other Business Disclosures [Abstract] Other Business Disclosures Number of tenants Number of tenants The number of tenants occupying the real estate properties owned as of the balance sheet date. Area of real estate property (sqft) Area of Real Estate Property Proceeds from issuance of shares Proceeds from Issuance Initial Public Offering Proceeds from dividend reinvestment plan Proceeds from Issuance of Common Stock, Dividend Reinvestment Plan Fair Value Disclosures [Abstract] Schedule of Other Financial Instruments In Carrying Values And Fair Values Schedule Of Other Financial Instruments In Carrying Values And Fair Values [Table Text Block] Tabular disclosure of other financial instruments at carrying value and fair value. Derivative Instruments and Hedging Activities Disclosure [Abstract] Derivative Instruments, Gain (Loss) [Table] Derivative Instruments, Gain (Loss) [Table] Hedging Relationship [Axis] Hedging Relationship [Axis] Hedging Relationship [Domain] Hedging Relationship [Domain] Derivatives in Cash Flow Hedging Relationships Cash Flow Hedging [Member] Derivatives in Net Investment Hedging Net Investment Hedging [Member] Derivative Instrument [Axis] Derivative Instrument [Axis] Derivative Contract [Domain] Derivative Contract [Domain] Interest rate swap(s) Interest Rate Swap [Member] Foreign currency collars Foreign Currency Collars [Member] Foreign Currency Collars [Member] Foreign currency forward contracts Foreign Exchange Contract [Member] Interest rate caps Interest Rate Cap [Member] Derivative Instruments, Gain (Loss) Derivative Instruments, Gain (Loss) [Line Items] Amount of Loss Recognized on Derivatives in Other Comprehensive Loss Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax Income Statement [Abstract] Distributions of available cash Distributions Of Available Cash Amount of cash generated from operations, excluding capital proceeds, as reduced by operating expenses and debt service, excluding prepayments and lump-sum or "balloon" payments, that is available to distribute to the advisor. Schedule of Real Estate Properties Schedule of Real Estate Properties [Table Text Block] Operating Lease Income Operating Lease, Lease Income [Table Text Block] Real Estate Under Construction Other Real Estate, Roll Forward [Table Text Block] Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table] Fair Values Derivatives, Balance Sheet Location, by Derivative Contract Type [Table] Hedging Designation [Axis] Hedging Designation [Axis] Hedging Designation [Domain] Hedging Designation [Domain] Derivatives Designated as Hedging Instruments Designated as Hedging Instrument [Member] Derivatives Not Designated as Hedging Instruments Not Designated as Hedging Instrument [Member] Balance Sheet Location [Axis] Balance Sheet Location [Axis] Balance Sheet Location [Domain] Balance Sheet Location [Domain] Accounts receivable and other assets, net Accounts Receivable and Other Assets, net [Member] Accounts Receivable and Other Assets, net [Member] Accounts payable, accrued expenses and other liabilities Accounts Payable and Accrued Liabilities [Member] Derivatives, Fair Value Derivatives, Fair Value [Line Items] Derivative asset fair value Derivative Asset, Fair Value, Gross Asset Derivative liability, fair value Derivative Asset, Fair Value, Gross Liability Receivables [Abstract] Schedule of Accounts, Notes, Loans and Financing Receivable [Table] Schedule of Accounts, Notes, Loans and Financing Receivable [Table] Counterparty Name [Axis] Counterparty Name [Axis] Counterparty Name [Domain] Counterparty Name [Domain] Cipriani Cipriani [Member] Cipriani [Member] Legal Entity [Axis] Legal Entity [Axis] Entity [Domain] Entity [Domain] Third Party Third Party [Member] Third Party [Member] Accounts, Notes, Loans and Financing Receivable Accounts, Notes, Loans and Financing Receivable [Line Items] Notes receivable, principal amount Receivable with Imputed Interest, Face Amount Accounts receivable, term Accounts Receivable, Term Accounts Receivable, Term Senior notes Senior Notes Stated interest rate (percent) Finance Receivable Stated Interest Rate Finance Receivable Stated Interest Rate Notes receivable Receivable with Imputed Interest, Net Amount Interest income Interest Income Notes Receivable Interest Income Notes Receivable Adjustments to retained earnings Accumulated Distributions in Excess of Net Income Investments in real estate: Real Estate Investment Property, Net [Abstract] Land Land Buildings and improvements Investment Building and Building Improvements Less: Accumulated depreciation Real Estate Investment Property, Accumulated Depreciation Net investments in real estate Real Estate Investment Property, Net Intangible Assets And Liabilities [Abstract] Intangible Assets And Liabilities [Abstract] Schedule of Intangible Assets and Liabilities Schedule Of Intangible Assets Liabilities [Table Text Block] Tabular disclosure of intangible assets and liabilities, which may be broken down by segment or major class. Currency [Axis] Currency [Axis] All Currencies [Domain] All Currencies [Domain] British Pound Sterling United Kingdom, Pounds Euro Euro Member Countries, Euro Norwegian Krone Norway, Krone Foreign currency exchange rate Foreign Currency Exchange Rate, Translation Increase (decrease) in foreign currency exchange rate Increase (Decrease) In Foreign Currency Exchange Rate Increase (Decrease) In Foreign Currency Exchange Rate Debt Disclosure [Abstract] Schedule of Long-term Debt Instruments [Table] Schedule of Long-term Debt Instruments [Table] Mortgage Loans On Real Estate Interest Rate [Axis] Mortgage Loans On Real Estate Interest Rate [Axis] Mortgage Loans On Real Estate Interest Rate Mortgage Loans On Real Estate Interest Rate [Domain] Mortgage Loans On Real Estate Interest Rate [Domain] Mortgage Loans On Real Estate Interest Rate Fixed Interest Rate Fixed Interest Rate [Member] Fixed Interest Rate Variable Interest Rate Variable Interest Rate [Member] Variable Interest Rate Statistical Measurement [Axis] Statistical Measurement [Axis] Statistical Measurement [Domain] Statistical Measurement [Domain] Minimum Minimum [Member] Maximum Maximum [Member] Long-term Debt, Type [Axis] Long-term Debt, Type [Axis] Long-term Debt, Type [Domain] Long-term Debt, Type [Domain] Construction Loans Construction Loans [Member] Student Housing in Barcelona, Spain Student Housing in Barcelona, Spain [Member] Student Housing in Barcelona, Spain [Member] Long-term debt Long-term Debt [Member] Debt Instrument Debt Instrument [Line Items] Debt Instruments Debt Instruments [Abstract] Weighted average interest rate (percent) SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate Maximum line of credit approved by directors Line of Credit Facility, Maximum Borrowing Capacity Weighted average variable interest rate (percent) Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate Non-recourse secured debt, net Secured Debt Other gains and (losses) Other Operating Income (Expense) [Member] Interest expense Interest Expense [Member] Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax [Abstract] Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax Revenues Revenues [Abstract] Lease revenues — net-leased Lease Income Lease revenues — operating real estate Real Estate Revenue, Other Real Estate Revenue, Other Other operating and interest income Interest Income, Other Revenues Revenues Operating Expenses Operating Expenses [Abstract] Depreciation and amortization Depreciation, Depletion and Amortization, Nonproduction Operating real estate expenses Other Cost of Operating Revenue Property expenses, excluding reimbursable tenant costs Occupancy, Net Allowance for credit losses Accounts Receivable, Credit Loss Expense (Reversal) Reimbursable tenant costs Reimbursable Tenant Expense Reimbursable Tenant Expense General and administrative General and Administrative Expense Operating Expenses Operating Costs and Expenses Other Income and Expenses Nonoperating Income (Expense) [Abstract] Interest expense Interest Expense Other gains and (losses) Other Nonoperating Income (Expense) Equity in losses of equity method investment in real estate Income (Loss) from Equity Method Investments Gain on sale of real estate, net Gain (Loss) on Sale of Properties, Net of Applicable Income Taxes Other Income and Expenses Nonoperating Income (Expense) (Loss) income before income taxes Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest Benefit from (provision for) income taxes Income Tax Expense (Benefit) Net (Loss) Income Net income attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $1,916 and $1,848, respectively) Net Income (Loss) Attributable to Noncontrolling Interest Net (Loss) Income Attributable to CPA:18 – Global Basic and diluted weighted-average shares outstanding (shares) All Other Segment Reconciling Items [Member] Corporate Corporate, Non-Segment [Member] Other Operating Properties Other Operating Properties [Member] Other Operating Properties [Member] Segment Reporting Information, Profit (Loss) Segment Reporting Information, Profit (Loss) [Abstract] Revenues Operating expenses (b) Interest expense Other gains and (losses) Other Income And Expenses Excluding Interest Expense The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations, excluding interest expense. Benefit from (provisions for) income taxes Net income attributable to noncontrolling interests Unallocated Corporate Income and Expenses Selling, General and Administrative Expense Accumulated Other Comprehensive Income (Loss) [Table] Accumulated Other Comprehensive Income (Loss) [Table] Gains and Losses on Derivative Instruments Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] Foreign Currency Translation Adjustments Accumulated Foreign Currency Adjustment Attributable to Parent [Member] AOCI Including Portion Attributable to Noncontrolling Interest AOCI Including Portion Attributable to Noncontrolling Interest [Member] Gains and (Losses) on Derivative Instruments Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest [Member] Foreign Currency Translation Adjustments Accumulated Foreign Currency Adjustment Including Portion Attributable to Noncontrolling Interest [Member] Noncontrolling Interest AOCI Attributable to Noncontrolling Interest [Member] Gains and (Losses) on Derivative Instruments Accumulated Gain (Loss), Net, Cash Flow Hedge, Noncontrolling Interest [Member] Foreign Currency Translation Adjustments Accumulated Foreign Currency Adjustment Attributable to Noncontrolling Interest [Member] Reclassification out of Accumulated Other Comprehensive Income [Axis] Reclassification out of Accumulated Other Comprehensive Income [Axis] Reclassification out of Accumulated Other Comprehensive Income [Domain] Reclassification out of Accumulated Other Comprehensive Income [Domain] Reclassification out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income [Member] Accumulated Other Comprehensive Income (Loss) [Line Items] Accumulated Other Comprehensive Income (Loss) [Line Items] Reconciliation Of Accumulated Comprehensive Income Reconciliation Of Accumulated Comprehensive Income [Abstract] Reconciliation Of Accumulated Comprehensive Income [Abstract] Other comprehensive income (loss) before reclassifications Other Comprehensive Income (Loss), before Reclassifications, Net of Tax Amounts reclassified from accumulated other comprehensive income (loss) to: AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward] Other gains and (losses) Interest expense Other Comprehensive Loss Other Comprehensive Income (Loss), Net of Tax Net current-period other comprehensive loss (income) attributable to noncontrolling interests Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest Related Party Transactions [Abstract] Schedule of Related Party Transactions, by Related Party [Table] Schedule of Related Party Transactions, by Related Party [Table] Related Party [Axis] Related Party [Axis] Related Party [Domain] Related Party [Domain] Affiliated Entity Affiliated Entity [Member] W.P. Carey W.P. Carey [Member] W.P. Carey [Member] Advisor Advisor [Member] Advisor [Member] Related Party Fees Basis [Axis] Related Party Fees Basis [Axis] -- None. No documentation exists for this element. -- Related Party Fees Basis [Domain] Related Party Fees Basis [Domain] -- None. No documentation exists for this element. -- Average market value of investment Average Market Value Of Investment [Member] Average Market Value Of Investment [Member] Average equity value of investment Average Equity Value Of Investment [Member] Average Equity Value Of Investment [Member] Real estate commission Real Estate Commission [Member] Real Estate Commission [Member] Contract sales price of investment Contract Sales Price Of Investment [Member] Contract Sales Price Of Investment [Member] Average invested asset Average Invested Assets [Member] Average invested assets Adjusted net income Adjusted Net Income [Member] Adjusted Net Income [Member] Settlement Term [Axis] Settlement Term [Axis] -- None. No documentation exists for this element. -- Settlement Term [Domain] Settlement Term [Domain] -- None. No documentation exists for this element. -- Current Current [Member] Current [Member] Deferred Deferred [Member] Deferred [Member] Related Party Transaction Related Party Transaction [Line Items] Advisory agreement, term Advisory Agreement, Term Advisory Agreement, Term Advisory agreement additional renewal period. term Advisory Agreement Additional Renewal Period. Term Advisory Agreement Additional Renewal Period. Term Advisory agreement, unpenalized cancellation period Advisory Agreement, Unpenalized Cancellation Window Advisory Agreement, Unpenalized Cancellation Window Ownership Interest In joint venture (as a percentage) Ownership Interest In Joint Venture The ownership interest in jointly owned investments by the reporting entity. Loans payable to joint venture Joint Venture Loans, Accounts Payable, and Other, Loans Due To Joint Venture Partners Joint Venture Loans, Accounts Payable, and Other, Loans Due To Joint Venture Partners Loan from related party Notes Payable, Related Parties Asset management fees (as a percentage) Percentage Of Asset Management Fees The percentage fee paid to the advisor for managing the company's assets based on the average market value or average equity value, as applicable, depending on the type of investments. Net asset value (usd per share) Net Asset Value Per Share Percentage of asset management fees payable in shares (percent) Asset Management Fees Payable In Shares Percent Of Total Asset Management Fees Payable In Shares Percent Of Total Percentage of asset management fees payable in cash (percent) Asset Management Fees Payable In Cash Percent Of Total Asset Management Fees Payable In Cash Percent Of Total Number of shares held by advisor (shares) Advisor owned percentage of common stock Percentage Of Total Common Stock Outstanding Held By Related Party The percentage of our common stock outstanding held by our advisor. Due to Related Party Due to Related Parties [Abstract] Preferred return (as a percentage) Preferred Return The advisor's preferred non-compounded cumulative distribution return per annum. Acquisition fees (as a percentage) Percentage of Acquisition Fees The percentage of fees paid to the advisor for the structuring and negotiating investments on the company's behalf and based on the aggregate total costs of an investment for all investments other than those in readily-marketable real estate securities purchased in the secondary market. Number of annual installment payments for acquisition and disposition fees Number Of Annual Installment Payments For Acquisition Disposition Fees Number Of Annual Installment Payments For Acquisition Disposition Fees Interest rate on deferred acquisition fee Interest Rate On Deferred Acquisition Fee Interest Rate On Deferred Acquisition Fee Subordinated disposition fees (as a percentage) Percentage Of Subordinated Disposition Fees The percentage fee based on the lesser of competitive real estate commission or the contract sales prices of the investment being sold that is paid to the advisor for services provided in connection with disposition. Personnel and overhead reimbursement (as a percentage) Personnel And Overhead Reimbursement, Percentage The percentage threshold for personnel and overhead reimbursement chargeable by the advisor for personnel cost. Personnel expenses excludes costs related to the advisor’s legal transaction group allocated. The threshold is based on pro rata revenue. Legal fee reimbursement rate Legal Fee Reimbursement Rate The percentage of total investment cost reimbursable to the advisor for legal fees. Percentage of operating expense reimbursement Percentage Of Operating Expenses Reimbursements The percentage guideline for when the advisor is required to reimburse the amount of operating expenses that exceeds the greater of the percentages for average invested assets or adjusted net income. Distributions of available cash (as a percentage) Distributions Of Available Cash, Percentage Distributions of Available Cash, Percentage Derivative [Table] Derivative [Table] USD United States of America, Dollars EUR GBP Derivative Derivative [Line Items] Number of Instruments Derivative, Number of Instruments Held Notional Amount Derivative, Notional Amount Fair value Interest Rate Derivatives, at Fair Value, Net Schedule Of Acquired Finite Lived Intangible Asset Liability By Major Class [Table] Schedule Of Acquired Finite Lived Intangible Asset Liability By Major Class [Table] -- None. No documentation exists for this element. -- Finite-Lived Intangible Assets by Major Class [Axis] Finite-Lived Intangible Assets by Major Class [Axis] Finite-Lived Intangible Assets, Major Class Name [Domain] Finite-Lived Intangible Assets, Major Class Name [Domain] In-place lease Leases, Acquired-in-Place [Member] Above-market rent Above Market Leases [Member] Finite-Lived Intangible Liabilities By Major Class [Axis] [Axis] Finite-Lived Intangible Liabilities By Major Class [Axis] [Axis] -- None. No documentation exists for this element. -- Finite-Lived Intangible Liabilities, Major Class Name [Domain] Finite-Lived Intangible Liabilities, Major Class Name [Domain] -- None. No documentation exists for this element. -- Below-market rent Below Market Rent [Member] Below Market Rent [Member] Finite Lived Intangible Assets Liabilities Intangible Assets Liabilities [Line Items] Intangible Assets Liabilities [Line Items] Finite-lived intangible asset, useful life Finite-Lived Intangible Asset, Useful Life Amortizable Intangible Assets Finite-Lived Intangible Assets, Net [Abstract] Finite-lived intangible assets, gross Finite-Lived Intangible Assets, Gross Less: accumulated amortization Finite-Lived Intangible Assets, Accumulated Amortization Finite-lived intangible assets, net Finite-Lived Intangible Assets, Net Goodwill Goodwill Total intangible assets, gross Intangible Assets, Gross (Including Goodwill) Intangible Assets, Gross (Including Goodwill) Total intangible assets, net Intangible Assets, Net (Including Goodwill) Amortizable Intangible Liability Finite Lived Intangible Liabilities Net [Abstract] Finite Lived Intangible Liabilities Net Finite-Lived Intangible Liabilities, Gross Finite-Lived Intangible Liabilities, Gross Amount before amortization of liabilities, excluding financial liabilities, lacking physical substance with a finite life. Finite Lived Intangible Liabilities Accumulated Amortization Finite Lived Intangible Liabilities Accumulated Amortization Accumulated amount of amortization of liabilities, excluding financial liabilities, lacking physical substance with a finite life. Finite Lived Intangible Liabilities Net Finite Lived Intangible Liabilities Net Amount after amortization of liabilities, excluding financial liabilities and goodwill, lacking physical substance with a finite life. (Loss) Earnings Per Share and Equity Stockholders' Equity Note Disclosure [Text Block] Statement of Financial Position [Abstract] Assets Assets [Abstract] Real estate — Land, buildings and improvements Rental Properties Operating real estate — Land, buildings and improvements Real Estate Investments, Other Real estate under construction Construction in Progress, Gross Net investments in direct financing leases Direct Financing Lease, Net Investment in Lease In-place lease and other intangible assets Finite Lived Intangible Asset Acquired In Place Leases, And Other intangible Assets Gross This element represents the amount of value that was allocated by a lessor (acquirer) to lease agreements which exist at acquisition of a leased property, before accumulated amortization at the balance sheet date. Such amount may include the value assigned to existing tenant relationships and excludes the market adjustment component of the value assigned for above or below-market leases acquired. Investments in real estate Real Estate Investment Property, at Cost Accumulated depreciation and amortization Accumulated Depreciation, Depletion And Amortization, Property, Plant, Equipment, And Intangible Assets Accumulated Depreciation, Depletion And Amortization, Property, Plant, Equipment, And Intangible Assets Cash and cash equivalents Cash and Cash Equivalents, at Carrying Value Accounts receivable and other assets, net Accounts Receivable And Other Assets Accounts Receivable and Other Assets Total assets Assets Liabilities and Equity Liabilities and Equity [Abstract] Accounts payable, accrued expenses and other liabilities Accounts Payable, Accrued Expenses And Other Liabilities Accounts Payable, Accrued Expenses and Other Liabilities Due to affiliates Due to Related Parties Distributions payable Dividends Payable Total liabilities Liabilities Commitments and contingencies (Note 10) Commitments and Contingencies Preferred stock, $0.001 par value; 50,000,000 shares authorized; none issued Preferred Stock, Value, Issued Common stock Common Stock, Value, Issued Additional paid-in capital Additional Paid in Capital Distributions and accumulated losses Accumulated other comprehensive loss Accumulated Other Comprehensive Income (Loss), Net of Tax Total stockholders’ equity Stockholders' Equity Attributable to Parent Noncontrolling interests Stockholders' Equity Attributable to Noncontrolling Interest Total equity Total liabilities and equity Liabilities and Equity Lease revenues — operating real estate Lease Revenue Operating Real Estate [Member] Lease Revenue Operating Real Estate [Member] Operating Leases, Lease Income Operating Lease, Lease Income [Abstract] Lease income — fixed Operating Lease, Lease Income, Lease Payments Lease income — variable Operating Lease, Variable Lease Income Total operating lease income Operating Lease, Lease Income Schedule of Variable Interest Entities [Table] Schedule of Variable Interest Entities [Table] Consolidated Entities [Axis] Consolidated Entities [Axis] Consolidated Entities [Domain] Consolidated Entities [Domain] VIE Variable Interest Entity, Primary Beneficiary [Member] Variable Interest Entity Variable Interest Entity [Line Items] In-place lease intangible assets Liabilities Liabilities [Abstract] Distributions declared per share (in dollars per share) Common Stock, Dividends, Per Share, Declared Basis of Presentation Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] Risk Management and Use of Derivative Financial Instruments Derivative Instruments and Hedging Activities Disclosure [Text Block] Lease payments receivable Direct Financing Lease, Lease Receivable Unguaranteed residual value Direct Financing Lease, Unguaranteed Residual Asset Gross investments in direct financing leases Direct Financing Lease, Net Investment in Lease, Excluding Deferred Selling Profit Direct Financing Lease, Net Investment in Lease, Excluding Deferred Selling Profit Less: unearned income Direct Financing Lease, Deferred Selling Profit Less: allowance for credit losses Direct Financing Lease, Net Investment in Lease, Allowance for Credit Loss Net investment in direct financing leases Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate Real Estate Disclosure [Text Block] Variable interest entities, count Variable Interest Entities, Count The number of variable interest entities held by the company as of the balance sheet date. Variable interest entities consolidated, count Variable Interest Entities Consolidated, Count The number of variable interest entities held by the company as of the balance sheet date which are consolidated. Variable interest entities unconsolidated, count Variable Interest Entities Unconsolidated, Count The number of variable interest entities held by the company as of the balance sheet date which are unconsolidated. Deferred tax liabilities Deferred Tax Liabilities, Gross Deferred tax assets, net of valuation Deferred Tax Assets, Net of Valuation Allowance Net amortization of intangibles Net Amortization Of Intangibles The aggregate expense charged against earnings to allocate the cost of intangible assets and liabilities (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Deferred financing costs Debt Issuance Costs, Net Unamortized premium Debt Instrument, Unamortized Discount (Premium), Net Schedule of Revenues from External Customers and Long-Lived Assets [Table] Schedule of Revenues from External Customers and Long-Lived Assets [Table] Self Storage Revenues from External Customers and Long-Lived Assets [Line Items] Revenues from External Customers and Long-Lived Assets [Line Items] Segment Reporting Information, Additional Information Segment Reporting Information, Additional Information [Abstract] Assets Schedule of Debt Maturities Schedule of Maturities of Long-term Debt [Table Text Block] Amount of Gain on Derivatives Recognized in Income Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] Amount of Gain on Derivatives Recognized in Income Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net Document and Entity Information [Abstract] Document And Entity Information. Document Information [Table] Document Information [Table] Document Information [Line Items] Document Information [Line Items] Document Type Document Type Document Period End Date Document Period End Date Amendment Flag Amendment Flag Document Fiscal Year Focus Document Fiscal Year Focus Document Fiscal Period Focus Document Fiscal Period Focus Current Fiscal Year End Date Current Fiscal Year End Date Entity Current Reporting Status Entity Current Reporting Status Entity Central Index Key Entity Central Index Key Entity Filer Category Entity Filer Category Entity Registrant Name Entity Registrant Name Entity Emerging Growth Company Entity Emerging Growth Company Entity Small Business Entity Small Business Entity Shell Company Entity Shell Company Entity Common Stock, Shares Outstanding Entity Common Stock, Shares Outstanding Fair Value Measurements Fair Value Disclosures [Text Block] Fair Value, by Balance Sheet Grouping [Table] Fair Value, by Balance Sheet Grouping [Table] Fair Value Hierarchy and NAV [Axis] Fair Value Hierarchy and NAV [Axis] Fair Value Hierarchy and NAV [Domain] Fair Value Hierarchy and NAV [Domain] Level 3 Fair Value, Inputs, Level 3 [Member] Measurement Basis [Axis] Measurement Basis [Axis] Fair Value Measurement [Domain] Fair Value Measurement [Domain] Portion at Fair Value Measurement [Member] Portion at Fair Value Measurement [Member] Carrying Value Reported Value Measurement [Member] Fair Value Estimate of Fair Value Measurement [Member] Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] Liabilities Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] Non-recourse secured debt, net Debt Instrument, Fair Value Disclosure Assets Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] Notes receivable Notes Receivable, Fair Value Disclosure CPA®:18 – Global stockholders’ equity: Stockholders' Equity Attributable to Parent [Abstract] Preferred stock, par value (usd per share) Preferred Stock, Par or Stated Value Per Share Preferred stock, shares authorized (shares) Preferred Stock, Shares Authorized Preferred stock, shares issued (shares) Preferred Stock, Shares Issued Common stock, par value (usd per share) Common Stock, Par or Stated Value Per Share Common stock, shares authorized (shares) Common Stock, Shares Authorized Common stock, shares outstanding (shares) Non-recourse secured debt, net Debt Disclosure [Text Block] Finance Receivables Financing Receivables [Text Block] Schedule of Related Party Transactions Schedule of Related Party Transactions [Table Text Block] Net Investments in Direct Financing Leases Capital Leases Net Investment In Direct Financing Leases [Table Text Block] Tabular disclosure of the entity's net investments in direct financing leases. Financing Receivable Credit Quality Indicators Financing Receivable Credit Quality Indicators [Table Text Block] Amounts Included in the Condensed Consolidated Statements of Operations Available Cash Distributions Personnel and overhead reimbursements Related Party Transaction, Selling, General and Administrative Expenses from Transactions with Related Party Interest expense on deferred acquisition fees and external joint venture loans Interest Expense, Related Party Disposition fees Related Party Disposition Fees Related Party Disposition Fees Operating expenses Related Parties Fees Paid And Expenses Reimbursed Included In Operating Expenses Expenses incurred during the period for related party transactions included in operating expenses. Acquisition Fees Capitalized Transaction Fees Incurred [Abstract] Transaction Fees Incurred [Abstract] Current acquisition fees Current Acquisition Fees Amount of current acquisition fees recognized in the period arising from acquisitions. Deferred acquisition fees Deferred Acquisition Fees Amount of deferred acquisition fees recognized in the period arising fom acquisitions. Capitalized personnel and overhead reimbursements Capitalized Personnel And Overhead Reimbursements Capitalized Personnel and Overhead Reimbursements Transaction fees incurred Advisor Fee Capitalized Advisor Fee Capitalized Long-term Debt, Fiscal Year Maturity Long-term Debt, Fiscal Year Maturity [Abstract] 2020 (remainder) Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year 2021 Long-term Debt, Maturities, Repayments of Principal in Year Two 2022 Long-term Debt, Maturities, Repayments of Principal in Year Three 2023 Long-term Debt, Maturities, Repayments of Principal in Year Four 2024 Long-term Debt, Maturities, Repayments of Principal in Year Five Thereafter through 2039 Long-term Debt, Maturities, Repayments of Principal after Year Five Long term debt gross Long-term Debt, Gross Unamortized deferred financing costs Unamortized premium, net Debt, net Long-term Debt Statement of Comprehensive Income [Abstract] Other Comprehensive Loss Unrealized loss on derivative instruments Comprehensive (Loss) Income Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest Amounts Attributable to Noncontrolling Interests Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest [Abstract] Net income Foreign currency translation adjustments Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest Unrealized loss on derivative instruments Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Noncontrolling Interest Comprehensive income attributable to noncontrolling interests Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest Comprehensive (Loss) Income Attributable to CPA:18 – Global Comprehensive Income (Loss), Net of Tax, Attributable to Parent Reconciliation of Revenue from Segments to Consolidated Reconciliation of Revenue from Segments to Consolidated [Table Text Block] Reconciliation of Assets from Segment to Consolidated Reconciliation of Assets from Segment to Consolidated [Table Text Block] Segment Reporting Segment Reporting Disclosure [Text Block] Real Estate Under Construction Real Estate Under Construction [Roll Forward] Real Estate Under Construction [Roll Forward] Beginning balance Capitalized funds Funds Capitalized For Construction In Progress Construction costs capitalized to date on capital projects that have not been completed and assets being constructed that are not ready to be placed into service. Foreign currency translation adjustments Foreign Currency Translation And Other Impacts On Real Estate Under Construction Other impacts on the carrying value of real estate under construction that includes but is not limited to foreign currency translation adjustments and building improvements. Placed into service Construction In Progress Placed Into Service Amount of assets under construction that are now placed into service as the balance sheet date. Ending balance Subsequent Events [Abstract] Subsequent Events Subsequent Events [Text Block] Derivatives in Cash Flow Hedging Relationships Foreign currency forward contracts Foreign Exchange Forward [Member] NOK Fair value Foreign Currency Cash Flow Hedge Derivative at Fair Value, Net Stock-based Compensation Share-based Compensation Arrangement by Share-based Payment Award [Line Items] Distributions Declared Equity Distributions [Abstract] Equity Distributions [Abstract] Due to Affiliates External joint venture loans, accounts payable, and other Due to Related Parties, Accounts Payable And Other Due to Related Parties, Accounts Payable And Other Deferred acquisition fees, including accrued interest Deferred Acquisition Fees Due To The Advisor Amount of deferred acquisition fees recognized, but have not yet been paid, arising from acquisitions. Asset management fees payable Asset Management Fees Due To The Advisor The amount of asset management fees payable to the advisor. Current acquisition fees Current Acquisition Fees Payable The current amount of fees due to affiliates for structuring and negotiating investments on their behalf. Due to affiliates Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Commitments and Contingencies Disclosure [Text Block] Agreements and Transactions with Related Parties Related Party Transactions Disclosure [Text Block] Schedule of Derivative Instruments in Statement of Financial Position, Fair Value Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] Derivative Instruments, Gain (Loss) Derivative Instruments, Gain (Loss) [Table Text Block] Schedule of Derivative Instruments Schedule of Derivative Instruments [Table Text Block] Financing Receivable, Credit Quality Indicator [Table] Financing Receivable, Credit Quality Indicator [Table] Internal Credit Assessment [Axis] Internal Credit Assessment [Axis] Internal Credit Assessment [Domain] Internal Credit Assessment [Domain] Internally Assigned Grade 1-3 Internally Assigned Grade1 thru 3 [Member] Internally Assigned Grade1-3 Member Internally Assigned Grade 4 Internally Assigned Grade4 [Member] Internally Assigned Grade4 [Member] Internally Assigned Grade 5 Internally Assigned Grade5 [Member] Internally Assigned Grade5 [Member] Financing Receivable, Credit Quality Indicator [Line Items] Financing Receivable, Credit Quality Indicator [Line Items] Credit Quality Of Finance Receivables Credit Quality Of Finance Receivables [Abstract] Credit Quality Of Finance Receivables Number of tenants and obligors Number Of Tenants And Obligors The number of tenants occupying the real estate properties owned and the number of obligors to us as of the balance sheet date. Carrying Value Financing Receivable, after Allowance for Credit Loss Cash and cash equivalents Restricted cash Restricted Cash Total cash and cash equivalents and restricted cash Other income Individual Counterparty Individual Counterparty [Member] Derivative Cash collateral posted Derivative Asset, Collateral, Obligation to Return Cash, Offset Estimated amount of derivative gain (loss) to be reclassified in the next 12 months Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimated Net Amount to be Transferred Derivative instrument remaining maturity period Derivative, Remaining Maturity Collateral received Derivative, Collateral, Obligation to Return Cash Total credit exposure Credit Derivative, Maximum Exposure, Undiscounted Derivative in net liability position Derivative, Net Liability Position, Aggregate Fair Value Termination value of assets Assets Needed for Immediate Settlement, Aggregate Fair Value Basis of Presentation Basis of Accounting, Policy [Policy Text Block] Basis of Consolidation Consolidation, Policy [Policy Text Block] Variable Interest Entity Consolidation, Variable Interest Entity, Policy [Policy Text Block] Recent Accounting Pronouncements New Accounting Pronouncements, Policy [Policy Text Block] Intangible Assets and Liabilities Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] Fair Value Measurements Fair Value of Financial Instruments, Policy [Policy Text Block] Basic and Diluted Loss Per Share Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] Reclassification out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] Schedule of Variable Interest Entities Schedule of Variable Interest Entities [Table Text Block] Foreign Currency Exchange Rates Foreign Currency Exchange Rates [Table Text Block] Foreign Currency Exchange Rates [Table Text Block] Reconciliation of Cash and Cash Equivalents Schedule of Cash and Cash Equivalents [Table Text Block] Restrictions on Cash and Cash Equivalents Restrictions on Cash and Cash Equivalents [Table Text Block] Intangible Assets and Liabilities Intangible Assets And Liabilities Disclosure [Text Block] The entire disclosure for all or part of the information related to intangible assets and liabilities. Organization Nature of Operations [Text Block] EX-101.PRE 11 cpa18-20200331_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT GRAPHIC 12 cpa18logoa01a01a37.jpg begin 644 cpa18logoa01a01a37.jpg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�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htm IDEA: XBRL DOCUMENT v3.20.1
Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Rollforward of Real Estate Under Construction (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
USD ($)
Real Estate Under Construction  
Beginning balance $ 235,751
Capitalized funds 38,569
Foreign currency translation adjustments (5,217)
Placed into service (4,062)
Capitalized interest 2,003
Ending balance $ 267,044
XML 14 R41.htm IDEA: XBRL DOCUMENT v3.20.1
Agreements and Transactions with Related Parties - Due to Affiliates (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Due to Affiliates    
External joint venture loans, accounts payable, and other $ 5,360 $ 5,951
Deferred acquisition fees, including accrued interest 3,007 4,456
Asset management fees payable 1,001 961
Current acquisition fees 118 8
Due to affiliates $ 9,486 $ 11,376
XML 15 R49.htm IDEA: XBRL DOCUMENT v3.20.1
Intangible Assets and Liabilities - Narratives (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Intangible Assets And Liabilities [Abstract]      
Goodwill $ 23,179   $ 26,024
Net amortization of intangibles $ 3,500 $ 3,900  
XML 16 R62.htm IDEA: XBRL DOCUMENT v3.20.1
(Loss) Earnings Per Share and Equity - Narratives (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Distributions Declared      
Interest expense $ 10,489 $ 12,357  
Distributions payable $ 22,844   $ 22,745
Class C      
Distributions Declared      
Interest expense   $ 100  
Distributions declared per share (in dollars per share) $ 0.1382    
Class A      
Distributions Declared      
Distributions declared per share (in dollars per share) $ 0.1563    
XML 17 R66.htm IDEA: XBRL DOCUMENT v3.20.1
Segment Reporting - Income Statement (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Segment Reporting Information, Profit (Loss)    
Revenues $ 42,880 $ 50,294
Operating expenses (b) (36,228) (32,272)
Interest expense (10,489) (12,357)
Other gains and (losses) (2,126) (476)
Gain on sale of real estate, net 0 15,408
Benefit from (provisions for) income taxes 394 (924)
Net income attributable to noncontrolling interests (2,611) (4,846)
Net (Loss) Income Attributable to CPA:18 – Global (8,180) 14,827
Operating Segments | Net Lease    
Segment Reporting Information, Profit (Loss)    
Revenues 24,067 30,992
Operating expenses (b) (20,602) (17,311)
Interest expense (6,858) (8,736)
Other gains and (losses) (3,440) 43
Gain on sale of real estate, net 0 897
Benefit from (provisions for) income taxes 639 (360)
Net income attributable to noncontrolling interests (700) (209)
Net (Loss) Income Attributable to CPA:18 – Global (6,894) 5,316
Operating Segments | Self Storage    
Segment Reporting Information, Profit (Loss)    
Revenues 15,356 14,839
Operating expenses (b) (9,095) (8,745)
Interest expense (3,356) (3,426)
Other gains and (losses) (54) (668)
Benefit from (provisions for) income taxes (31) (33)
Net (Loss) Income Attributable to CPA:18 – Global 2,820 1,967
Operating Segments | Other Operating Properties    
Segment Reporting Information, Profit (Loss)    
Revenues 2,747 2,622
Operating expenses (b) (1,485) (1,634)
Interest expense (252) (120)
Other gains and (losses) 15 (39)
Gain on sale of real estate, net 0 14,514
Benefit from (provisions for) income taxes 14 (23)
Net income attributable to noncontrolling interests 5 (2,789)
Net (Loss) Income Attributable to CPA:18 – Global 1,044 12,531
All Other    
Segment Reporting Information, Profit (Loss)    
Revenues 710 1,833
Operating expenses (b) 0 (1)
Net (Loss) Income Attributable to CPA:18 – Global 710 1,832
Corporate    
Segment Reporting Information, Profit (Loss)    
Net income attributable to noncontrolling interests (1,916) (1,848)
Unallocated Corporate Income and Expenses $ (3,944) $ (4,971)
XML 18 R9.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash Flows — Operating Activities    
Net Cash Provided by Operating Activities $ 22,808 $ 21,859
Cash Flows — Investing Activities    
Funding for development projects (38,086) (32,408)
Value added taxes paid in connection with construction funding (3,641) (2,926)
Capital expenditures on real estate (3,057) (750)
Payment of deferred acquisition fees to an affiliate (1,488) (2,252)
Return of capital from equity investments 1,134 0
Capital contributions to equity investment (345) 0
Value added taxes refunded in connection with construction funding 325 1,006
Proceeds from sale of real estate 0 16,404
Net Cash Used in Investing Activities (45,158) (20,926)
Cash Flows — Financing Activities    
Proceeds from mortgage financing 25,126 7,582
Distributions paid (22,745) (22,264)
Proceeds from issuance of shares 10,426 10,487
Repurchase of shares (8,177) (3,605)
Scheduled payments and prepayments of mortgage principal (7,529) (16,423)
Distributions to noncontrolling interests (3,355) (7,112)
Contributions from noncontrolling interests 595 2,520
Other financing activities, net (99) (716)
Net Cash Used in Financing Activities (5,758) (29,531)
Change in Cash and Cash Equivalents and Restricted Cash During the Period    
Effect of exchange rate changes on cash and cash equivalents and restricted cash (3,388) (441)
Net decrease in cash and cash equivalents and restricted cash (31,496) (29,039)
Cash and cash equivalents and restricted cash, beginning of period 163,398 190,838
Cash and cash equivalents and restricted cash, end of period $ 131,902 $ 161,799
XML 19 R28.htm IDEA: XBRL DOCUMENT v3.20.1
Intangible Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2020
Intangible Assets And Liabilities [Abstract]  
Schedule of Intangible Assets and Liabilities
Intangible assets and liabilities are summarized as follows (in thousands):
 
 
 
March 31, 2020
 
December 31, 2019
 
Amortization Period (Years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Finite-Lived Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
In-place lease
6 – 23
 
$
232,546

 
$
(131,852
)
 
$
100,694

 
$
238,771

 
$
(131,012
)
 
$
107,759

Above-market rent
7 – 30
 
9,929

 
(4,187
)
 
5,742

 
10,257

 
(4,141
)
 
6,116

 
 
 
242,475

 
(136,039
)
 
106,436

 
249,028

 
(135,153
)
 
113,875

Indefinite-Lived Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill
 
 
23,179

 
—

 
23,179

 
26,024

 
—

 
26,024

Total intangible assets
 
 
$
265,654

 
$
(136,039
)
 
$
129,615

 
$
275,052

 
$
(135,153
)
 
$
139,899

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Finite-Lived Intangible Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
Below-market rent
6 – 30
 
$
(14,930
)
 
$
6,875

 
$
(8,055
)
 
$
(14,974
)
 
$
6,627

 
$
(8,347
)
Total intangible liabilities
 
 
$
(14,930
)
 
$
6,875

 
$
(8,055
)
 
$
(14,974
)
 
$
6,627

 
$
(8,347
)
XML 20 R1.htm IDEA: XBRL DOCUMENT v3.20.1
Document and Entity Information - shares
 3 Months Ended
Mar. 31, 2020
May 08, 2020
Document Information [Line Items]    
Document Type 10-Q  
Document Period End Date Mar. 31, 2020  
Amendment Flag false  
Document Fiscal Year Focus 2020  
Document Fiscal Period Focus Q1  
Current Fiscal Year End Date --12-31  
Entity Current Reporting Status Yes  
Entity Central Index Key 0001558235  
Entity Filer Category Non-accelerated Filer  
Entity Registrant Name Corporate Property Associates 18 Global Incorporated  
Entity Emerging Growth Company false  
Entity Small Business false  
Entity Shell Company false  
Class A    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   118,621,016
Class C    
Document Information [Line Items]    
Entity Common Stock, Shares Outstanding   32,549,043
XML 21 R20.htm IDEA: XBRL DOCUMENT v3.20.1
(Loss) Earnings Per Share and Equity
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share and Equity
Earnings Per Share and Equity

Basic and Diluted (Loss) Earnings Per Share

The following table presents (loss) earnings per share (in thousands, except share and per share amounts):
 
Three Months Ended March 31,
 
2020
 
2019
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Loss
 
Basic and Diluted Loss Per Share 
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Income
 
Basic and Diluted Earnings Per Share 
Class A common stock
117,968,262

 
$
(6,398
)
 
$
(0.05
)
 
115,497,094

 
$
11,654

 
$
0.10

Class C common stock
32,445,640

 
(1,782
)
 
(0.05
)
 
31,879,027

 
3,173

 
0.10

Net (loss) income attributable to CPA:18 – Global
 
 
$
(8,180
)
 
 
 
 
 
$
14,827

 
 


The allocation of Net (loss) income attributable to CPA:18 – Global is calculated based on the basic and diluted weighted-average shares outstanding for Class A and Class C common stock for each respective period. The Class C common stock allocation includes interest expense related to the accretion of interest on the annual distribution and shareholder servicing fee liability of less than $0.1 million for both the three months ended March 31, 2020 and March 31, 2019, respectively (Note 3).

Distributions

For the three months ended March 31, 2020, our board of directors declared quarterly distributions of $0.1563 per share for our Class A common stock and $0.1382 per share for our Class C common stock, which were paid on April 15, 2020 to stockholders of record on March 31, 2020, in the amount of $22.8 million.

Reclassifications Out of Accumulated Other Comprehensive Loss

The following tables present a reconciliation of changes in Accumulated other comprehensive loss by component for the periods presented (in thousands):
 
Three Months Ended March 31, 2020
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
138

 
$
(56,673
)
 
$
(56,535
)
Other comprehensive loss before reclassifications
(1,622
)
 
(24,082
)
 
(25,704
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(397
)
 
—

 
(397
)
Interest expense
196

 
—

 
196

Net current-period other comprehensive loss
(1,823
)
 
(24,082
)
 
(25,905
)
Net current-period other comprehensive loss attributable to noncontrolling interests
—

 
2,528

 
2,528

Ending balance
$
(1,685
)
 
$
(78,227
)
 
$
(79,912
)

 
Three Months Ended March 31, 2019
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
2,215

 
$
(52,808
)
 
$
(50,593
)
Other comprehensive loss before reclassifications
143

 
(4,242
)
 
(4,099
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(357
)
 
—

 
(357
)
Interest expense
(24
)
 
—

 
(24
)
Net current-period other comprehensive loss
(238
)
 
(4,242
)
 
(4,480
)
Net current-period other comprehensive loss attributable to noncontrolling interests
—

 
158

 
158

Ending balance
$
1,977

 
$
(56,892
)
 
$
(54,915
)

See Note 8 for additional information on our derivative activity recognized within Other comprehensive loss for the periods presented.
XML 23 R24.htm IDEA: XBRL DOCUMENT v3.20.1
Basis of Presentation Basis of Presentation (Tables)
 3 Months Ended
Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities
The following table presents a summary of selected financial data of the consolidated VIEs included in the condensed consolidated balance sheets (in thousands):
 
March 31, 2020
 
December 31, 2019
Real estate — Land, buildings and improvements
$
343,342

 
$
359,886

Real estate under construction
267,044

 
233,220

In-place lease intangible assets
98,588

 
101,198

Accumulated depreciation and amortization
(79,634
)
 
(78,598
)
Total assets
661,082

 
642,648

 
 
 
 
Non-recourse secured debt, net
$
287,069

 
$
276,124

Total liabilities
342,183

 
330,549
Foreign Currency Exchange Rates
The following table reflects the end-of-period rate of the U.S. dollar in relation to foreign currencies:
 
March 31, 2020
 
December 31, 2019
 
Percent Change
British Pound Sterling
$
1.2360

 
$
1.3204

 
(6.4
)%
Euro
1.0956

 
1.1234

 
(2.5
)%
Norwegian Krone
0.0952

 
0.1139

 
(16.4
)%
Reconciliation of Cash and Cash Equivalents
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the condensed consolidated statements of cash flows (in thousands):
 
March 31, 2020
 
December 31, 2019
Cash and cash equivalents
$
104,939

 
$
144,148

Restricted cash (a)
26,963

 
19,250

Total cash and cash equivalents and restricted cash
$
131,902

 
$
163,398

__________
(a)
Restricted cash is included within Accounts receivable and other assets, net on our condensed consolidated balance sheets.
Restrictions on Cash and Cash Equivalents
The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the condensed consolidated statements of cash flows (in thousands):
 
March 31, 2020
 
December 31, 2019
Cash and cash equivalents
$
104,939

 
$
144,148

Restricted cash (a)
26,963

 
19,250

Total cash and cash equivalents and restricted cash
$
131,902

 
$
163,398

__________
(a)
Restricted cash is included within Accounts receivable and other assets, net on our condensed consolidated balance sheets.
XML 24 R5.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Income Statement [Abstract]    
Distributions of available cash $ 1,916 $ 1,848
XML 25 R12.htm IDEA: XBRL DOCUMENT v3.20.1
Agreements and Transactions with Related Parties
 3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Agreements and Transactions with Related Parties
Agreements and Transactions with Related Parties

Transactions with Our Advisor

We have an advisory agreement with our Advisor whereby our Advisor performs certain services for us under a fee arrangement, including the identification, evaluation, negotiation, purchase, day-to-day management, and disposition of real estate and related assets and mortgage loans. We also reimburse our Advisor for general and administrative duties performed on our behalf. The advisory agreement has a term of one year and may be renewed for successive one-year periods. We may terminate the advisory agreement upon 60 days written notice without cause or penalty.

Jointly Owned Investments and Other Transactions with our Affiliates

As of March 31, 2020, we owned interests ranging from 50% to 100% in jointly owned investments, with the remaining interests held by affiliates or by third parties. Since no other parties hold any rights that supersede our control, we consolidate all of these joint ventures, with the exception of our sole equity investment (Note 4), which we account for under the equity method of accounting.

The following tables present a summary of fees we paid, expenses we reimbursed, and distributions we made to our Advisor and other affiliates in accordance with the terms of the relevant agreements (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Amounts Included in the Condensed Consolidated Statements of Operations
 
 
 
Asset management fees
$
3,002

 
$
2,868

Available Cash Distributions
1,916

 
1,848

Personnel and overhead reimbursements
725

 
798

Interest expense on deferred acquisition fees and external joint venture loans
123

 
127

Disposition fees
—

 
1,117

 
$
5,766

 
$
6,758

 
 
 
 
Acquisition Fees Capitalized
 
 
 
 
 
 
 
Current acquisition fees
$
110

 
$
695

Deferred acquisition fees
88

 
555

Capitalized personnel and overhead reimbursements
70

 
89

 
$
268

 
$
1,339



The following table presents a summary of amounts included in Due to affiliates in the condensed consolidated financial statements (in thousands):
 
March 31, 2020
 
December 31, 2019
Due to Affiliates
 
 
 
External joint venture loans, accounts payable, and other (a)
$
5,360

 
$
5,951

Deferred acquisition fees, including accrued interest
3,007

 
4,456

Asset management fees payable
1,001

 
961

Current acquisition fees
118

 
8

 
$
9,486

 
$
11,376


___________
(a)
Includes loans from our joint venture partners to the jointly owned investments that we consolidate. As of March 31, 2020 and December 31, 2019, loans due to our joint venture partners, including accrued interest, were $4.5 million and $4.6 million, respectively.

Asset Management Fees

Pursuant to the advisory agreement, our Advisor is entitled to an annual asset management fee ranging from 0.5% to 1.5%, depending on the type of investment and based on the average market value or average equity value, as applicable, of our investments. Asset management fees are payable in cash and/or shares of our Class A common stock. For any portion of fees our Advisor receives in shares, the number of shares issued is determined by dividing the dollar amount of fees by our most recently published estimated net asset value per share (“NAV”) per Class A share, which was $8.94 as of December 31, 2019. Effective January 1, 2019, our Advisor elected to receive 50% of the asset management fees in shares of our Class A common stock and 50% in cash. Effective April 1, 2020, our Advisor elected to receive all of the asset management fees in shares of our Class A common stock. As of March 31, 2020, our Advisor owned 5,922,928 shares, or 4.0%, of our outstanding Class A common stock. Asset management fees are included in Property expenses in the condensed consolidated financial statements.

Acquisition and Disposition Fees

Our Advisor receives acquisition fees, a portion of which is payable upon acquisition, while the remaining portion is subordinated to a preferred return of a non-compounded cumulative distribution of 5.0% per annum (based initially on our invested capital). The initial acquisition fee and subordinated acquisition fee are 2.5% and 2.0%, respectively, of the aggregate total cost of our portion of each investment for all investments, other than those in readily marketable real estate securities purchased in the secondary market, for which our Advisor will not receive any acquisition fees. Deferred acquisition fees are scheduled to be paid in three equal annual installments following the quarter in which a property was purchased and are subject to the preferred return described above. The preferred return was achieved as of the periods ended March 31, 2020 and December 31, 2019. The preferred return will continue to be assessed on a cumulative basis for the remainder of the fiscal year. Unpaid installments of deferred acquisition fees are included in Due to affiliates in the condensed consolidated financial statements and bear interest at an annual rate of 2.0%. The cumulative total acquisition costs, including acquisition fees paid to the advisor, may not exceed 6.0% of the aggregate contract purchase price of all investments, which is measured at the end of each year.

In addition, prior to January 1, 2020, our Advisor was entitled to receive a disposition fee equal to the lesser of (i) 50.0% of the competitive real estate commission (as defined in the advisory agreement) or (ii) 3.0% of the contract sales price of the investment being sold. These fees were paid at the discretion of our board of directors. Effective January 1, 2020, the Advisor has waived its right to disposition fees with respect to sales and dispositions of single investments and portfolios of investments. The Advisor may still be entitled to disposition fees in connection with a transaction or series of transactions related to a merger, liquidation, or other event, at the discretion of our board of directors. 

Personnel and Overhead Reimbursements

Under the terms of the advisory agreement, our Advisor allocates a portion of its personnel and overhead expenses to us and the other entities that are managed by WPC and its affiliates, which as of March 31, 2020 included Carey Watermark Investors Incorporated, Carey Watermark Investors 2 Incorporated, and Carey European Student Housing Fund I L.P. (collectively with us, the “Managed Programs”).

We reimburse our Advisor for the allocated costs of personnel and overhead in managing our day-to-day operations, including accounting services, stockholder services, corporate management, and property management and operations. In addition, we reimburse our Advisor for various expenses it incurs in the course of providing services to us. We reimburse certain third-party expenses paid by our Advisor on our behalf, including property-specific costs, professional fees, office expenses, and business development expenses. We do not reimburse our Advisor for salaries and benefits paid to our named executive officers or for the cost of personnel that provide services for transactions for where our Advisor receives a fee (such as for acquisitions and dispositions). Under the advisory agreement, the amount of applicable personnel costs allocated to us is capped at 1.0% of our pro rata total revenues for each of 2020 and 2019. Our Advisor allocates overhead expenses to us based upon the percentage that our full-time employee equivalents comprised of the Advisor’s total full-time employee equivalents. Costs related to our Advisor’s legal transactions group are based on a schedule of expenses relating to services performed for different types of transactions, such as financing, lease amendments, and dispositions, among other categories, and includes 0.25% of the total investment cost of an acquisition. In general, personnel and overhead reimbursements are included in General and administrative expenses in the condensed consolidated financial statements. However, we capitalize certain costs related to our Advisor’s legal transactions group if the costs relate to an asset acquisition or other transactions.

Excess Operating Expenses
 
Our Advisor is obligated to reimburse us for the amount by which our operating expenses exceeds the “2%/25% guidelines” (the greater of 2% of average invested assets or 25% of net income) as defined in the advisory agreement for any 12-month period, subject to certain conditions. For the most recent trailing four quarters, our operating expenses were below this threshold.

Available Cash Distributions

WPC’s interest in the Operating Partnership entitles it to receive distributions of up to 10.0% of the available cash generated by the Operating Partnership (“the Available Cash Distribution”), which is defined as cash generated from operations, excluding capital proceeds, as reduced by operating expenses and debt service, excluding prepayments and balloon payments. Available Cash Distributions are included in Net income attributable to noncontrolling interests in the condensed consolidated financial statements.
XML 26 R16.htm IDEA: XBRL DOCUMENT v3.20.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Fair Value Measurements
 
The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities, and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate caps, interest rate swaps, foreign currency forward contracts and foreign currency collars; and Level 3, for securities that do not fall into Level 1 or Level 2 and for which little or no market data exists, therefore requiring us to develop our own assumptions.

Items Measured at Fair Value on a Recurring Basis

The methods and assumptions described below were used to estimate the fair value of each class of financial instrument. For significant Level 3 items, we have also provided the unobservable inputs.

Derivative Assets and Liabilities — Our derivative assets and liabilities, which are included in Accounts receivable and other assets, net and Accounts payable, accrued expenses and other liabilities, respectively, in the condensed consolidated financial statements, are comprised of foreign currency forward contracts, interest rate swaps, interest rate caps, and foreign currency collars (Note 8).

The valuation of our derivative instruments is determined using a discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves, spot and forward rates, and implied volatilities. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative instruments for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. These derivative instruments were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market.

We did not have any transfers into or out of Level 1, Level 2, and Level 3 measurements during the three months ended March 31, 2020 and 2019. Gains and losses (realized and unrealized) recognized on items measured at fair value on a recurring basis included in earnings are reported within Other gains and (losses) on our condensed consolidated financial statements.
 
Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands):
 
 
 
March 31, 2020
 
December 31, 2019
 
Level
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Non-recourse secured debt, net (a) (b)
3
 
$
1,183,382

 
$
1,196,712

 
$
1,201,913

 
$
1,239,004

Notes receivable (c)
3
 
28,000

 
30,300

 
28,000

 
30,300

___________
(a)
As of March 31, 2020 and December 31, 2019, the carrying value of Non-recourse secured debt, net includes unamortized deferred financing costs of $6.2 million and $5.8 million, respectively, and unamortized premium, net of $1.3 million and $2.1 million, respectively (Note 9).
(b)
We determined the estimated fair value of our Non-recourse secured debt, net using a discounted cash flow model that estimates the present value of the future loan payments by discounting such payments at current estimated market interest rates. The estimated market interest rates take into account interest rate risk and the value of the underlying collateral, which includes quality of the collateral, the credit quality of the tenant/obligor, and the time until maturity.
(c)
We determined the estimated fair value of our Notes receivable using a discounted cash flow model with rates that take into account the credit of the tenant/obligor, order of payment tranches, and interest rate risk. We also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant/obligor, the time until maturity, and the current market interest rate.

We estimated that our other financial assets and liabilities (excluding net investments in direct financing leases) had fair values that approximated their carrying values as of both March 31, 2020 and December 31, 2019.
ZIP 27 0001558235-20-000012-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001558235-20-000012-xbrl.zip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�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end XML 29 R35.htm IDEA: XBRL DOCUMENT v3.20.1
Basis of Presentation - Narratives (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
USD ($)
vie
Jan. 01, 2020
USD ($)
Dec. 31, 2019
USD ($)
vie
Variable Interest Entity      
Variable interest entities, count | vie 19   19
Variable interest entities consolidated, count | vie 18   18
Variable interest entities unconsolidated, count | vie 1   1
Accounts receivable written off during the period $ 2,800    
Deferred tax liabilities 42,900   $ 48,600
Deferred tax assets, net of valuation 1,500   1,400
Adjustments to retained earnings 508,253   470,326
Cumulative Effect, Period of Adoption, Adjustments      
Variable Interest Entity      
Adjustments to retained earnings   $ (6,900)  
Equity method investments      
Variable Interest Entity      
Equity investment in real estate 13,200   $ 14,900
Lease revenues — net-leased      
Variable Interest Entity      
Accounts receivable written off during the period $ 7,000    
XML 30 R31.htm IDEA: XBRL DOCUMENT v3.20.1
Non-Recourse Secured Debt, Net (Tables)
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Debt Maturities
Scheduled debt principal payments during the remainder of 2020, each of the next four calendar years following December 31, 2020, and thereafter are as follows (in thousands):
Years Ending December 31,
 
Total
2020 (remainder)
 
$
59,686

2021
 
151,979

2022
 
189,208

2023
 
203,916

2024
 
198,335

Thereafter through 2039
 
385,187

Total principal payments
 
1,188,311

Unamortized deferred financing costs
 
(6,244
)
Unamortized premium, net
 
1,315

Total
 
$
1,183,382
XML 31 R39.htm IDEA: XBRL DOCUMENT v3.20.1
Agreements and Transactions with Related Parties - Narratives (Details)
 3 Months Ended
Mar. 31, 2020
USD ($)
payment
shares
Dec. 31, 2019
USD ($)
$ / shares
shares
Jan. 01, 2019
Related Party Transaction      
Advisory agreement, term 1 year    
Advisory agreement additional renewal period. term 1 year    
Advisory agreement, unpenalized cancellation period 60 days    
Loans payable to joint venture | $ $ 4,500,000 $ 4,600,000  
Percentage of asset management fees payable in cash (percent)     50.00%
Due to Related Party      
Preferred return (as a percentage) 5.00%    
Number of annual installment payments for acquisition and disposition fees | payment 3    
Personnel and overhead reimbursement (as a percentage) 1.00%    
Legal fee reimbursement rate 0.25%    
Distributions of available cash (as a percentage) 10.00%    
Current      
Due to Related Party      
Acquisition fees (as a percentage) 2.50%    
Deferred      
Due to Related Party      
Acquisition fees (as a percentage) 2.00%    
Interest rate on deferred acquisition fee 2.00%    
Class A common stock      
Related Party Transaction      
Net asset value (usd per share) | $ / shares   $ 8.94  
Percentage of asset management fees payable in shares (percent)     50.00%
Number of shares held by advisor (shares) | shares 117,627,430 117,179,578  
Real estate commission      
Due to Related Party      
Subordinated disposition fees (as a percentage) 50.00%    
Contract sales price of investment      
Due to Related Party      
Subordinated disposition fees (as a percentage) 3.00%    
Average invested asset      
Due to Related Party      
Percentage of operating expense reimbursement 2.00%    
Adjusted net income      
Due to Related Party      
Percentage of operating expense reimbursement 25.00%    
Affiliated Entity | W.P. Carey      
Related Party Transaction      
Loan from related party | $   $ 0  
Affiliated Entity | Advisor | Class A common stock      
Related Party Transaction      
Number of shares held by advisor (shares) | shares 5,922,928    
Advisor owned percentage of common stock 4.00%    
Minimum      
Related Party Transaction      
Ownership Interest In joint venture (as a percentage) 50.00%    
Minimum | Average market value of investment      
Related Party Transaction      
Asset management fees (as a percentage) 0.50%    
Maximum      
Related Party Transaction      
Ownership Interest In joint venture (as a percentage) 100.00%    
Due to Related Party      
Acquisition fees (as a percentage) 6.00%    
Maximum | Average equity value of investment      
Related Party Transaction      
Asset management fees (as a percentage) 1.50%    
XML 32 R58.htm IDEA: XBRL DOCUMENT v3.20.1
Risk Management and Use of Derivative Financial Instruments - Interest Rate Swap and Caps Summary (Details)
€ in Thousands, $ in Thousands
Mar. 31, 2020
EUR (€)
instrument
Mar. 31, 2020
USD ($)
instrument
Derivative    
Fair value   $ (4,555)
Derivatives Designated as Hedging Instruments | Interest rate swap(s) | USD    
Derivative    
Number of Instruments | instrument 9 9
Notional Amount   $ 92,008
Fair value   $ (4,555)
Derivatives Designated as Hedging Instruments | Interest rate caps | USD    
Derivative    
Number of Instruments | instrument 1 1
Notional Amount   $ 5,700
Fair value   $ 0
Derivatives Designated as Hedging Instruments | Interest rate caps | EUR    
Derivative    
Number of Instruments | instrument 1 1
Notional Amount | € € 12,975  
Fair value   $ 20
Derivatives Designated as Hedging Instruments | Interest rate caps | GBP    
Derivative    
Number of Instruments | instrument 2 2
Notional Amount   $ 59,000
Fair value   $ 17
Derivatives Not Designated as Hedging Instruments | Interest rate swap(s) | EUR    
Derivative    
Number of Instruments | instrument 1 1
Notional Amount | € € 9,183  
Fair value   $ (37)
XML 33 R50.htm IDEA: XBRL DOCUMENT v3.20.1
Intangible Assets and Liabilities - Intangible Assets and Liabilities Summary (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Amortizable Intangible Assets    
Finite-lived intangible assets, gross $ 242,475 $ 249,028
Less: accumulated amortization (136,039) (135,153)
Finite-lived intangible assets, net 106,436 113,875
Goodwill 23,179 26,024
Total intangible assets, gross 265,654 275,052
Total intangible assets, net 129,615 139,899
Amortizable Intangible Liability    
Finite-Lived Intangible Liabilities, Gross (14,930) (14,974)
Finite Lived Intangible Liabilities Accumulated Amortization 6,875 6,627
Finite Lived Intangible Liabilities Net (8,055) (8,347)
Below-market rent    
Amortizable Intangible Liability    
Finite-Lived Intangible Liabilities, Gross (14,930) (14,974)
Finite Lived Intangible Liabilities Accumulated Amortization 6,875 6,627
Finite Lived Intangible Liabilities Net $ (8,055) (8,347)
Below-market rent | Minimum    
Finite Lived Intangible Assets Liabilities    
Finite-lived intangible asset, useful life 6 years  
Below-market rent | Maximum    
Finite Lived Intangible Assets Liabilities    
Finite-lived intangible asset, useful life 30 years  
In-place lease    
Amortizable Intangible Assets    
Finite-lived intangible assets, gross $ 232,546 238,771
Less: accumulated amortization (131,852) (131,012)
Finite-lived intangible assets, net $ 100,694 107,759
In-place lease | Minimum    
Finite Lived Intangible Assets Liabilities    
Finite-lived intangible asset, useful life 6 years  
In-place lease | Maximum    
Finite Lived Intangible Assets Liabilities    
Finite-lived intangible asset, useful life 23 years  
Above-market rent    
Amortizable Intangible Assets    
Finite-lived intangible assets, gross $ 9,929 10,257
Less: accumulated amortization (4,187) (4,141)
Finite-lived intangible assets, net $ 5,742 $ 6,116
Above-market rent | Minimum    
Finite Lived Intangible Assets Liabilities    
Finite-lived intangible asset, useful life 7 years  
Above-market rent | Maximum    
Finite Lived Intangible Assets Liabilities    
Finite-lived intangible asset, useful life 30 years  
XML 34 R54.htm IDEA: XBRL DOCUMENT v3.20.1
Risk Management and Use of Derivative Financial Instruments - Information Regarding Derivative Instruments (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Derivatives, Fair Value    
Derivative asset fair value $ 3,209 $ 2,474
Derivative liability, fair value (4,592) (2,039)
Derivatives Designated as Hedging Instruments    
Derivatives, Fair Value    
Derivative asset fair value 3,209 2,474
Derivative liability, fair value (4,555) (1,991)
Derivatives Designated as Hedging Instruments | Accounts receivable and other assets, net | Foreign currency collars    
Derivatives, Fair Value    
Derivative asset fair value 2,518 1,444
Derivatives Designated as Hedging Instruments | Accounts receivable and other assets, net | Foreign currency forward contracts    
Derivatives, Fair Value    
Derivative asset fair value 654 861
Derivatives Designated as Hedging Instruments | Accounts receivable and other assets, net | Interest rate caps    
Derivatives, Fair Value    
Derivative asset fair value 37 116
Derivatives Designated as Hedging Instruments | Accounts receivable and other assets, net | Interest rate swap(s)    
Derivatives, Fair Value    
Derivative asset fair value 0 53
Derivatives Designated as Hedging Instruments | Accounts payable, accrued expenses and other liabilities | Interest rate swap(s)    
Derivatives, Fair Value    
Derivative liability, fair value (4,555) (1,991)
Derivatives Not Designated as Hedging Instruments    
Derivatives, Fair Value    
Derivative asset fair value 0 0
Derivative liability, fair value (37) (48)
Derivatives Not Designated as Hedging Instruments | Accounts payable, accrued expenses and other liabilities | Interest rate swap(s)    
Derivatives, Fair Value    
Derivative asset fair value 0  
Derivative liability, fair value $ (37) $ (48)
XML 35 R13.htm IDEA: XBRL DOCUMENT v3.20.1
Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate
 3 Months Ended
Mar. 31, 2020
Real Estate [Abstract]  
Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate
Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate

Real Estate — Land, Buildings and Improvements

Real estate, which consists of land and buildings leased to others, which are subject to operating leases, is summarized as follows (in thousands):
 
March 31, 2020
 
December 31, 2019
Land
$
185,556

 
$
196,693

Buildings and improvements
972,941

 
1,003,952

Less: Accumulated depreciation
(138,269
)
 
(135,922
)
 
$
1,020,228

 
$
1,064,723



The carrying value of our Real Estate — Land, buildings and improvements decreased by $41.9 million from December 31, 2019 to March 31, 2020, reflecting the impact of exchange rate fluctuations during the same period (Note 2).

Depreciation expense, including the effect of foreign currency translation, on our real estate was $7.1 million and $7.5 million for the three months ended March 31, 2020 and 2019, respectively.

Leases

Operating Lease Income

Lease income related to operating leases recognized and included within Lease revenues — net-leased and Lease revenues — operating real estate in the condensed consolidated statements of operations are as follows (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Lease revenues — net-leased
 
 
 
Lease income — fixed (a)
$
17,622

 
$
25,387

Lease income — variable (b)
3,785

 
4,561

Total operating lease income (c)
$
21,407

 
$
29,948

 
 
 
 
Lease revenues — operating real estate
 
 
 
Lease income — fixed
$
17,302

 
$
16,641

Lease income — variable (d)
641

 
624

Total operating lease income
$
17,943

 
$
17,265

___________
(a)
Amount for the three months ended March 31, 2020 includes a $7.0 million write-off of straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels (Note 2).
(b)
Includes (i) rent increases based on changes in the Consumer Price Index (“CPI”) and other comparable indices and (ii) reimbursements for property taxes, insurance, and common area maintenance services.
(c)
Excludes $1.0 million of interest income for both the three months ended March 31, 2020 and 2019, from direct financing leases that is included in Lease revenues — net-leased in the condensed consolidated statements of operations.
(d)
Primarily comprised of late fees and administrative fees revenues.

Operating Real Estate — Land, Buildings and Improvements
 
Operating real estate, which consists of our self-storage and student housing properties, is summarized as follows (in thousands):
 
March 31, 2020
 
December 31, 2019
Land
$
77,704

 
$
78,240

Buildings and improvements
427,622

 
434,245

Less: Accumulated depreciation
(60,743
)
 
(57,237
)
 
$
444,583

 
$
455,248



The carrying value of our Operating real estate — land, buildings and improvements decreased by $7.2 million from December 31, 2019 to March 31, 2020, reflecting the impact of exchange rate fluctuations during the same period (Note 2).

Depreciation expense, including the effect of foreign currency translation, on our operating real estate was $3.8 million for both the three months ended March 31, 2020 and 2019.

Real Estate Under Construction

The following table provides the activity of our Real estate under construction (in thousands):
 
Three Months Ended March 31, 2020
Beginning balance
$
235,751

Capitalized funds
38,569

Foreign currency translation adjustments
(5,217
)
Placed into service
(4,062
)
Capitalized interest
2,003

Ending balance
$
267,044



Capitalized Funds

During the three months ended March 31, 2020, total capitalized funds primarily related to construction draws for our student housing development projects, and includes accrued costs of $2.5 million, which is a non-cash investing activity.

Capitalized Interest

Capitalized interest includes interest incurred during construction as well as amortization of the mortgage discount and deferred financing costs, which totaled $2.0 million during the three months ended March 31, 2020, which is a non-cash investing activity.

Ending Balance

As of March 31, 2020, we had 12 open development projects, with aggregate unfunded commitments of approximately $237.0 million, excluding capitalized interest, accrued costs, and capitalized acquisition fees for our Advisor.

Ghana Settlement Update

During the three months ended March 31, 2020, the collectibility of the value added tax (“VAT”) receivable to be refunded by the Ghanaian government was no longer deemed probable. As such, we recorded a $2.8 million loss to write-off the VAT receivable during the three months ended March 31, 2020, which is included within Other gains and (losses) on our condensed consolidated statements of operations.

Equity Investment in Real Estate

We classify distributions received from equity method investments using the cumulative earnings approach. Distributions received are considered returns on the investment and classified as cash inflows from operating activities. If, however, the investor’s cumulative distributions received, less distributions received in prior periods determined to be returns of investment, exceeds cumulative equity in earnings recognized, the excess is considered a return of investment and is classified as cash inflows from investing activities.

We have an interest in an unconsolidated investment in our Self Storage segment that relates to a joint venture for the development of three self-storage facilities in Canada. This entity was jointly owned with a third party, which is also the general partner of the joint venture. Our ownership and economic interest in the joint venture is 100%. We continue to not consolidate this entity because we are not the primary beneficiary due to shared decision making with the general partner and the nature of our involvement in the activities, which allows us to exercise significant influence, but does not give us power over decisions that significantly affect the economic performance of the entity.

As of March 31, 2020 and December 31, 2019, our total equity investment balance for these self-storage properties was $13.2 million and $14.9 million, respectively, which is included in Accounts receivable and other assets, net in the condensed consolidated financial statements. As of March 31, 2020 and December 31, 2019, the joint venture had total third-party recourse debt of $29.3 million and $32.2 million, respectively.
XML 36 R17.htm IDEA: XBRL DOCUMENT v3.20.1
Risk Management and Use of Derivative Financial Instruments
 3 Months Ended
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Risk Management and Use of Derivative Financial Instruments
Risk Management and Use of Derivative Financial Instruments
 
Risk Management
 
In the normal course of our ongoing business operations, we encounter economic risk. There are four main components of economic risk that impact us: interest rate risk, credit risk, market risk, and foreign currency risk. We are primarily subject to interest rate risk on our interest-bearing liabilities. Credit risk is the risk of default on our operations and our tenants’ inability or unwillingness to make contractually required payments. Market risk includes changes in the value of our properties and related loans, as well as changes in the value of our other investments due to changes in interest rates or other market factors. We own international investments, primarily in Europe, and are subject to risks associated with fluctuating foreign currency exchange rates.
 
Derivative Financial Instruments
 
There have been no significant changes in our derivative financial instrument policies from what was disclosed in the 2019 Annual Report. As of both March 31, 2020 and December 31, 2019, no cash collateral had been posted or received for any of our derivative positions.

The following table sets forth certain information regarding our derivative instruments (in thousands):
Derivatives Designated as Hedging Instruments
 
Balance Sheet Location
 
Derivative Assets Fair Value at
 
Derivative Liabilities Fair Value at
 
 
March 31, 2020
 
December 31, 2019
 
March 31, 2020
 
December 31, 2019
Foreign currency collars
 
Accounts receivable and other assets, net
 
$
2,518

 
$
1,444

 
$
—

 
$
—

Foreign currency forward contracts
 
Accounts receivable and other assets, net
 
654

 
861

 
—

 
—

Interest rate caps
 
Accounts receivable and other assets, net
 
37

 
116

 
—

 
—

Interest rate swaps
 
Accounts receivable and other assets, net
 
—

 
53

 
—

 
—

Interest rate swaps
 
Accounts payable, accrued expenses and other liabilities
 
—

 
—

 
(4,555
)
 
(1,991
)
 
 
 
 
3,209

 
2,474

 
(4,555
)
 
(1,991
)
Derivatives Not Designated as Hedging Instruments
 
 
 
 
 
 
 
 
 
 
Interest rate swap
 
Accounts payable, accrued expenses and other liabilities
 
—

 
—

 
(37
)
 
(48
)
 
 
 
 
—

 
—

 
(37
)
 
(48
)
Total derivatives
 
 
 
$
3,209

 
$
2,474

 
$
(4,592
)
 
$
(2,039
)

The following tables present the impact of our derivative instruments in the condensed consolidated financial statements (in thousands):
 
 
Amount of Loss Recognized on Derivatives in Other Comprehensive Loss
 
 
Three Months Ended March 31,
Derivatives in Cash Flow Hedging Relationships 
 
2020
 
2019
Interest rate swaps
 
$
(2,617
)
 
$
(887
)
Foreign currency collars
 
1,140

 
805

Foreign currency forward contracts
 
(207
)
 
(157
)
Interest rate caps
 
(139
)
 
1

Derivatives in Net Investment Hedging Relationship (a)
 
 
 
 
Foreign currency collars
 
149

 
1

Total
 
$
(1,674
)
 
$
(237
)

___________
(a)
The changes in fair value and the settlement of these contracts are reported in the foreign currency translation adjustment section of Other comprehensive loss.
 
 
 
 
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income
Derivatives in Cash Flow Hedging Relationships 
 
Location of Gain (Loss) Recognized in Income
 
Three Months Ended March 31,
 
 
2020
 
2019
Foreign currency forward contracts
 
Other gains and (losses)
 
$
278

 
$
346

Interest rate swaps
 
Interest expense
 
(179
)
 
27

Foreign currency collars
 
Other gains and (losses)
 
119

 
11

Interest rate caps
 
Interest expense
 
(17
)
 
(3
)
Total
 
 
 
$
201

 
$
381



Amounts reported in Other comprehensive loss related to our interest derivative contracts will be reclassified to Interest expense as interest is incurred on our variable-rate debt. Amounts reported in Other comprehensive loss related to foreign currency derivative contracts will be reclassified to Other gains and (losses) when the hedged foreign currency contracts are settled. As of March 31, 2020, we estimated that an additional $1.9 million and $1.6 million will be reclassified as Interest expense and Other gains and (losses), respectively, during the next 12 months.

The following table presents the impact of our derivative instruments in the condensed consolidated financial statements (in thousands):
 
 
 
 
Amount of Gain on Derivatives Recognized in Income
Derivatives Not in Cash Flow Hedging Relationships 
 
Location of Gain (Loss) Recognized in Income
 
Three Months Ended March 31,
 
 
2020
 
2019
Foreign currency collars
 
Other gains and (losses)
 
$
81

 
$
118

Interest rate swap
 
Interest expense
 
8

 
—

Foreign currency forward contracts
 
Other gains and (losses)
 
7

 
—

Derivatives in Cash Flow Hedging Relationships
 
 
 
 
 
 
Interest rate swaps
 
Interest expense
 
179

 
(1
)
Foreign currency collars
 
Other gains and (losses)
 
—

 
7

Total
 
 
 
$
275

 
$
124


Interest Rate Swaps and Caps

We are exposed to the impact of interest rate changes primarily through our borrowing activities. To limit this exposure, we attempt to obtain mortgage financing on a long-term, fixed-rate basis. However, from time to time, we or our joint investment partners have obtained, and may in the future obtain, variable-rate non-recourse secured debt and, as a result, we have entered into, and may continue to enter into interest rate swap agreements or interest rate cap agreements with counterparties. Interest rate swaps, which effectively convert the variable-rate debt service obligations of a loan to a fixed rate, are agreements in which one party exchanges a stream of interest payments for a counterparty’s stream of cash flow over a specific period. The notional, or face, amount on which the swaps are based is not exchanged. Interest rate caps limit the effective borrowing rate of variable-rate debt obligations while allowing participants to share in downward shifts in interest rates. Our objective in using these derivatives is to limit our exposure to interest rate movements.
 
The interest rate swaps and caps that our consolidated subsidiaries had outstanding as of March 31, 2020 are summarized as follows (currency in thousands):
Interest Rate Derivatives
 
Number of Instruments
 
Notional
Amount
 
Fair Value at
March 31, 2020 (a)
Interest rate swaps
 
9
 
92,008

USD
 
$
(4,555
)
Interest rate cap
 
1
 
12,975

EUR
 
20

Interest rate caps
 
2
 
59,000

GBP
 
17

Interest rate cap
 
1
 
5,700

USD
 
—

Derivatives Not Designated as Hedging Instruments
 
 
 
 
 
 
 
Interest rate swap (b)
 
1
 
9,183

EUR
 
(37
)
 
 
 
 
 
 
 
$
(4,555
)

___________
(a)
Fair value amount is based on the exchange rate of the respective currencies as of March 31, 2020, as applicable.
(b)
This interest rate swap does not qualify for hedge accounting; however, it does protect against fluctuations in interest rates related to the underlying variable-rate debt.

Foreign Currency Contracts
 
We are exposed to foreign currency exchange rate movements, primarily in the euro and, to a lesser extent, the Norwegian krone. We manage foreign currency exchange rate movements by generally placing our debt service obligation on an investment in the same currency as the tenant’s rental obligation to us. This reduces our overall exposure to the net cash flow from that investment. However, we are subject to foreign currency exchange rate movements to the extent that there is a difference in the timing and amount of the rental obligation and the debt service. Realized and unrealized gains and losses recognized in earnings related to foreign currency transactions are included in Other gains and (losses) in the condensed consolidated financial statements.

In order to hedge certain of our foreign currency cash flow exposures, we enter into foreign currency forward contracts and collars. A foreign currency forward contract is a commitment to deliver a certain amount of currency at a certain price on a specific date in the future. By entering into forward contracts and holding them to maturity, we are locked into a future currency exchange rate for the term of the contract. A foreign currency collar guarantees that the exchange rate of the currency will not fluctuate beyond the range of the options’ strike prices. Our foreign currency forward contracts and foreign currency collars have maturities of 72 months or less.

The following table presents the foreign currency derivative contracts we had outstanding and their designations as of March 31, 2020 (currency in thousands):
Foreign Currency Derivatives
 
Number of Instruments
 
Notional
Amount
 
Fair Value at
March 31, 2020
Designated as Cash Flow Hedging Instruments
 
 
 
 
 
 
 
Foreign currency collars
 
20
 
17,152

EUR
 
$
1,665

Foreign currency collars
 
16
 
30,660

NOK
 
801

Foreign currency forward contracts
 
5
 
2,006

EUR
 
654

Designated as Net Investment Hedging Instruments
 
 
 
 
 
 
 
Foreign currency collar
 
1
 
2,500

NOK
 
52

 
 
 
 
 
 
 
$
3,172



Credit Risk-Related Contingent Features

We measure our credit exposure on a counterparty basis as the net positive aggregate estimated fair value of our derivatives, net of any collateral received. No collateral was received as of March 31, 2020. At March 31, 2020, our total credit exposure was $2.4 million and the maximum exposure to any single counterparty was $1.2 million.

Some of the agreements we have with our derivative counterparties contain cross-default provisions that could trigger a declaration of default on our derivative obligations if we default, or are capable of being declared in default, on certain of our indebtedness. As of March 31, 2020, we had not been declared in default on any of our derivative obligations. The estimated fair value of our derivatives in a net liability position was $4.7 million and $2.1 million as of March 31, 2020 and December 31, 2019, respectively, which included accrued interest and any nonperformance risk adjustments. If we had breached any of these provisions as of March 31, 2020 or December 31, 2019, we could have been required to settle our obligations under these agreements at their aggregate termination value of $5.0 million and $2.2 million, respectively.
EXCEL 37 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 38 R38.htm IDEA: XBRL DOCUMENT v3.20.1
Basis of Presentation - Cash, Cash Equivalents, and Restricted Cash Equivalents Reconciliation (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]        
Cash and cash equivalents $ 104,939 $ 144,148    
Restricted cash 26,963 19,250    
Total cash and cash equivalents and restricted cash $ 131,902 $ 163,398 $ 161,799 $ 190,838

XML 39 R34.htm IDEA: XBRL DOCUMENT v3.20.1
Organization - Narratives (Details)
ft² in Millions, $ in Millions
 3 Months Ended 39 Months Ended 99 Months Ended
Mar. 31, 2020
ft²
segment
property
tenant
Apr. 02, 2015
USD ($)
Mar. 31, 2020
USD ($)
ft²
property
tenant
Public Offering      
Capital interest ownership in operating partnership (percent) 99.97%   99.97%
Additional Disclosures      
Number of properties 47   47
Number of tenants | tenant 65   65
Area of real estate property (sqft) | ft² 9.6   9.6
Number of reportable segments | segment 3    
Proceeds from issuance of shares | $   $ 1,200.0  
Class A common stock      
Additional Disclosures      
Proceeds from dividend reinvestment plan | $     $ 192.3
Class C common stock      
Additional Disclosures      
Proceeds from dividend reinvestment plan | $     $ 55.1
Operating Real Estate      
Additional Disclosures      
Area of real estate property (sqft) | ft² 5.5   5.5
Operating Real Estate | Self Storage      
Additional Disclosures      
Number of properties 68   68
Operating Real Estate | Other Operating Properties | Twelve Student Housing Developments      
Additional Disclosures      
Number of properties 12   12
Operating Real Estate | Other Operating Properties | Three Student Housing Operating Properties      
Additional Disclosures      
Number of properties 2   2
XML 40 R30.htm IDEA: XBRL DOCUMENT v3.20.1
Risk Management and Use of Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table sets forth certain information regarding our derivative instruments (in thousands):
Derivatives Designated as Hedging Instruments
 
Balance Sheet Location
 
Derivative Assets Fair Value at
 
Derivative Liabilities Fair Value at
 
 
March 31, 2020
 
December 31, 2019
 
March 31, 2020
 
December 31, 2019
Foreign currency collars
 
Accounts receivable and other assets, net
 
$
2,518

 
$
1,444

 
$
—

 
$
—

Foreign currency forward contracts
 
Accounts receivable and other assets, net
 
654

 
861

 
—

 
—

Interest rate caps
 
Accounts receivable and other assets, net
 
37

 
116

 
—

 
—

Interest rate swaps
 
Accounts receivable and other assets, net
 
—

 
53

 
—

 
—

Interest rate swaps
 
Accounts payable, accrued expenses and other liabilities
 
—

 
—

 
(4,555
)
 
(1,991
)
 
 
 
 
3,209

 
2,474

 
(4,555
)
 
(1,991
)
Derivatives Not Designated as Hedging Instruments
 
 
 
 
 
 
 
 
 
 
Interest rate swap
 
Accounts payable, accrued expenses and other liabilities
 
—

 
—

 
(37
)
 
(48
)
 
 
 
 
—

 
—

 
(37
)
 
(48
)
Total derivatives
 
 
 
$
3,209

 
$
2,474

 
$
(4,592
)
 
$
(2,039
)
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The following tables present the impact of our derivative instruments in the condensed consolidated financial statements (in thousands):
 
 
Amount of Loss Recognized on Derivatives in Other Comprehensive Loss
 
 
Three Months Ended March 31,
Derivatives in Cash Flow Hedging Relationships 
 
2020
 
2019
Interest rate swaps
 
$
(2,617
)
 
$
(887
)
Foreign currency collars
 
1,140

 
805

Foreign currency forward contracts
 
(207
)
 
(157
)
Interest rate caps
 
(139
)
 
1

Derivatives in Net Investment Hedging Relationship (a)
 
 
 
 
Foreign currency collars
 
149

 
1

Total
 
$
(1,674
)
 
$
(237
)

___________
(a)
The changes in fair value and the settlement of these contracts are reported in the foreign currency translation adjustment section of Other comprehensive loss.
 
 
 
 
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income
Derivatives in Cash Flow Hedging Relationships 
 
Location of Gain (Loss) Recognized in Income
 
Three Months Ended March 31,
 
 
2020
 
2019
Foreign currency forward contracts
 
Other gains and (losses)
 
$
278

 
$
346

Interest rate swaps
 
Interest expense
 
(179
)
 
27

Foreign currency collars
 
Other gains and (losses)
 
119

 
11

Interest rate caps
 
Interest expense
 
(17
)
 
(3
)
Total
 
 
 
$
201

 
$
381
Derivative Instruments, Gain (Loss)
The following table presents the impact of our derivative instruments in the condensed consolidated financial statements (in thousands):
 
 
 
 
Amount of Gain on Derivatives Recognized in Income
Derivatives Not in Cash Flow Hedging Relationships 
 
Location of Gain (Loss) Recognized in Income
 
Three Months Ended March 31,
 
 
2020
 
2019
Foreign currency collars
 
Other gains and (losses)
 
$
81

 
$
118

Interest rate swap
 
Interest expense
 
8

 
—

Foreign currency forward contracts
 
Other gains and (losses)
 
7

 
—

Derivatives in Cash Flow Hedging Relationships
 
 
 
 
 
 
Interest rate swaps
 
Interest expense
 
179

 
(1
)
Foreign currency collars
 
Other gains and (losses)
 
—

 
7

Total
 
 
 
$
275

 
$
124
Schedule of Derivative Instruments
The following table presents the foreign currency derivative contracts we had outstanding and their designations as of March 31, 2020 (currency in thousands):
Foreign Currency Derivatives
 
Number of Instruments
 
Notional
Amount
 
Fair Value at
March 31, 2020
Designated as Cash Flow Hedging Instruments
 
 
 
 
 
 
 
Foreign currency collars
 
20
 
17,152

EUR
 
$
1,665

Foreign currency collars
 
16
 
30,660

NOK
 
801

Foreign currency forward contracts
 
5
 
2,006

EUR
 
654

Designated as Net Investment Hedging Instruments
 
 
 
 
 
 
 
Foreign currency collar
 
1
 
2,500

NOK
 
52

 
 
 
 
 
 
 
$
3,172

The interest rate swaps and caps that our consolidated subsidiaries had outstanding as of March 31, 2020 are summarized as follows (currency in thousands):
Interest Rate Derivatives
 
Number of Instruments
 
Notional
Amount
 
Fair Value at
March 31, 2020 (a)
Interest rate swaps
 
9
 
92,008

USD
 
$
(4,555
)
Interest rate cap
 
1
 
12,975

EUR
 
20

Interest rate caps
 
2
 
59,000

GBP
 
17

Interest rate cap
 
1
 
5,700

USD
 
—

Derivatives Not Designated as Hedging Instruments
 
 
 
 
 
 
 
Interest rate swap (b)
 
1
 
9,183

EUR
 
(37
)
 
 
 
 
 
 
 
$
(4,555
)

___________
(a)
Fair value amount is based on the exchange rate of the respective currencies as of March 31, 2020, as applicable.
(b)
This interest rate swap does not qualify for hedge accounting; however, it does protect against fluctuations in interest rates related to the underlying variable-rate debt.
XML 41 R51.htm IDEA: XBRL DOCUMENT v3.20.1
Fair Value Measurements - Narratives (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Fair Value Disclosures [Abstract]    
Deferred financing costs $ 6,244 $ 5,800
Unamortized premium $ 1,315 $ 2,100
XML 42 R55.htm IDEA: XBRL DOCUMENT v3.20.1
Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Recognized in OCI (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Derivative Instruments, Gain (Loss)    
Amount of Loss Recognized on Derivatives in Other Comprehensive Loss $ (1,674) $ (237)
Derivatives in Cash Flow Hedging Relationships | Interest rate swap(s)    
Derivative Instruments, Gain (Loss)    
Amount of Loss Recognized on Derivatives in Other Comprehensive Loss (2,617) (887)
Derivatives in Cash Flow Hedging Relationships | Foreign currency collars    
Derivative Instruments, Gain (Loss)    
Amount of Loss Recognized on Derivatives in Other Comprehensive Loss 1,140 805
Derivatives in Cash Flow Hedging Relationships | Foreign currency forward contracts    
Derivative Instruments, Gain (Loss)    
Amount of Loss Recognized on Derivatives in Other Comprehensive Loss (207) (157)
Derivatives in Cash Flow Hedging Relationships | Interest rate caps    
Derivative Instruments, Gain (Loss)    
Amount of Loss Recognized on Derivatives in Other Comprehensive Loss (139) 1
Derivatives in Net Investment Hedging | Foreign currency collars    
Derivative Instruments, Gain (Loss)    
Amount of Loss Recognized on Derivatives in Other Comprehensive Loss $ 149 $ 1
XML 43 R59.htm IDEA: XBRL DOCUMENT v3.20.1
Risk Management and Use of Derivative Financial Instruments - Foreign Currency Derivatives Details (Details)
€ in Thousands, kr in Thousands, $ in Thousands
Mar. 31, 2020
EUR (€)
instrument
Mar. 31, 2020
NOK (kr)
instrument
Mar. 31, 2020
USD ($)
instrument
Derivative      
Fair value     $ 3,172
Derivatives Designated as Hedging Instruments | Derivatives in Cash Flow Hedging Relationships | Foreign currency collars | EUR      
Derivative      
Number of Instruments | instrument 20 20 20
Notional Amount | € € 17,152    
Fair value     $ 1,665
Derivatives Designated as Hedging Instruments | Derivatives in Cash Flow Hedging Relationships | Foreign currency collars | NOK      
Derivative      
Number of Instruments | instrument 16 16 16
Notional Amount | kr   kr 30,660  
Fair value     $ 801
Derivatives Designated as Hedging Instruments | Derivatives in Cash Flow Hedging Relationships | Foreign currency forward contracts | EUR      
Derivative      
Number of Instruments | instrument 5 5 5
Notional Amount | € € 2,006    
Fair value     $ 654
Derivatives Designated as Hedging Instruments | Derivatives in Net Investment Hedging | Foreign currency collars | NOK      
Derivative      
Number of Instruments | instrument 1 1 1
Notional Amount | kr   kr 2,500  
Fair value     $ 52
XML 44 R48.htm IDEA: XBRL DOCUMENT v3.20.1
Finance Receivables - Internal Credit Quality Rating (Details)
$ in Thousands
Mar. 31, 2020
USD ($)
tenant
Dec. 31, 2019
USD ($)
tenant
Credit Quality Of Finance Receivables    
Carrying Value $ 58,338 $ 70,054
Internally Assigned Grade 1-3    
Credit Quality Of Finance Receivables    
Number of tenants and obligors | tenant 4 4
Carrying Value $ 44,964 $ 45,457
Internally Assigned Grade 4    
Credit Quality Of Finance Receivables    
Number of tenants and obligors | tenant 1 1
Carrying Value $ 13,374 $ 24,597
Internally Assigned Grade 5    
Credit Quality Of Finance Receivables    
Number of tenants and obligors | tenant 0 0
Carrying Value $ 0 $ 0
XML 45 R44.htm IDEA: XBRL DOCUMENT v3.20.1
Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Operating Lease Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Lease revenues — net-leased    
Operating Leases, Lease Income    
Lease income — fixed $ 17,622 $ 25,387
Lease income — variable 3,785 4,561
Total operating lease income 21,407 29,948
Lease revenues — operating real estate    
Operating Leases, Lease Income    
Lease income — fixed 17,302 16,641
Lease income — variable 641 624
Total operating lease income $ 17,943 $ 17,265
XML 46 R40.htm IDEA: XBRL DOCUMENT v3.20.1
Agreements and Transactions with Related Parties - Related Party Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Amounts Included in the Condensed Consolidated Statements of Operations    
Asset management fees $ 3,002 $ 2,868
Available Cash Distributions 1,916 1,848
Personnel and overhead reimbursements 725 798
Interest expense on deferred acquisition fees and external joint venture loans 123 127
Disposition fees 0 1,117
Operating expenses 5,766 6,758
Acquisition Fees Capitalized    
Current acquisition fees 110 695
Deferred acquisition fees 88 555
Capitalized personnel and overhead reimbursements 70 89
Transaction fees incurred $ 268 $ 1,339
XML 47 R63.htm IDEA: XBRL DOCUMENT v3.20.1
(Loss) Earnings Per Share and Equity - Basic and Diluted Loss Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Basic and Diluted    
Allocation of Net (Loss) Income $ (8,180) $ 14,827
Class A common stock    
Basic and Diluted    
Weighted-Average Shares Outstanding (shares) 117,968,262 115,497,094
Allocation of Net (Loss) Income $ (6,398) $ 11,654
Basic and diluted (loss) earnings per share (in dollars per share) $ (0.05) $ 0.10
Class C common stock    
Basic and Diluted    
Weighted-Average Shares Outstanding (shares) 32,445,640 31,879,027
Allocation of Net (Loss) Income $ (1,782) $ 3,173
Basic and diluted (loss) earnings per share (in dollars per share) $ (0.05) $ 0.10
XML 48 R67.htm IDEA: XBRL DOCUMENT v3.20.1
Segment Reporting - Segment Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Segment Reporting Information, Additional Information    
Assets [1] $ 2,149,544 $ 2,234,803
Operating Segments | Net Lease    
Segment Reporting Information, Additional Information    
Assets 1,463,826 1,517,659
Operating Segments | Self Storage    
Segment Reporting Information, Additional Information    
Assets 365,907 369,883
Operating Segments | Other Operating Properties    
Segment Reporting Information, Additional Information    
Assets 215,628 213,692
Corporate    
Segment Reporting Information, Additional Information    
Assets 76,018 105,407
All Other    
Segment Reporting Information, Additional Information    
Assets $ 28,165 $ 28,162
[1] See Note 2 for details related to variable interest entities (“VIEs”).
XML 49 R21.htm IDEA: XBRL DOCUMENT v3.20.1
Segment Reporting
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting

We operate in three reportable business segments: Net Lease, Self Storage, and Other Operating Properties. Our Net Lease segment includes our investments in net-leased properties, whether they are accounted for as operating leases or direct financing leases. Our Self Storage segment is comprised of our investments in self-storage properties. Our Other Operating Properties segment is primarily comprised of our investments in student housing operating properties and multi-family residential properties (our last multi-family residential property was sold in January 2019). In addition, we have an All Other category that includes our notes receivable investments, one of which was repaid during the second quarter of 2019. The following tables present a summary of comparative results and assets for these business segments (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Net Lease
 
 
 
Revenues (a)
$
24,067

 
$
30,992

Operating expenses (b)
(20,602
)
 
(17,311
)
Interest expense
(6,858
)
 
(8,736
)
Other gains and (losses)
(3,440
)
 
43

Gain on sale of real estate, net
—

 
897

Benefit from (provision for) income taxes
639

 
(360
)
Net income attributable to noncontrolling interests
(700
)
 
(209
)
Net (loss) income attributable to CPA:18 – Global
$
(6,894
)
 
$
5,316

Self Storage
 
 
 
Revenues
$
15,356

 
$
14,839

Operating expenses
(9,095
)
 
(8,745
)
Interest expense
(3,356
)
 
(3,426
)
Other gains and (losses) (c)
(54
)
 
(668
)
Provision for income taxes
(31
)
 
(33
)
Net income attributable to CPA:18 – Global
$
2,820

 
$
1,967

Other Operating Properties
 
 
 
Revenues
$
2,747

 
$
2,622

Operating expenses
(1,485
)
 
(1,634
)
Interest expense
(252
)
 
(120
)
Other gains and (losses)
15

 
(39
)
Gain on sale of real estate, net
—

 
14,514

Benefit from (provision for) income taxes
14

 
(23
)
Net loss (income) attributable to noncontrolling interests
5

 
(2,789
)
Net income attributable to CPA:18 – Global
$
1,044

 
$
12,531

All Other (d)
 
 
 
Revenues
$
710

 
$
1,833

Operating expenses
—

 
(1
)
Net income attributable to CPA:18 – Global
$
710

 
$
1,832

Corporate
 
 
 
Unallocated Corporate Overhead (e)
$
(3,944
)
 
$
(4,971
)
Net income attributable to noncontrolling interests — Available Cash Distributions
$
(1,916
)
 
$
(1,848
)
Total Company
 
 
 
Revenues
$
42,880

 
$
50,294

Operating expenses (b)
(36,228
)
 
(32,272
)
Interest expense
(10,489
)
 
(12,357
)
Other gains and (losses) (c)
(2,126
)
 
(476
)
Gain on sale of real estate, net
—

 
15,408

Benefit from (provision for) income taxes
394

 
(924
)
Net income attributable to noncontrolling interests
(2,611
)
 
(4,846
)
Net (loss) income attributable to CPA:18 – Global
$
(8,180
)
 
$
14,827


 
Total Assets
 
March 31, 2020
 
December 31, 2019
Net Lease
$
1,463,826

 
$
1,517,659

Self Storage
365,907

 
369,883

Other Operating Properties
215,628

 
213,692

Corporate
76,018

 
105,407

All Other
28,165

 
28,162

Total Company
$
2,149,544

 
$
2,234,803


__________
(a)
The three months ended March 31, 2020 and 2019 includes straight-line rent amortization of $0.7 million and $0.9 million, respectively. The three months ended March 31, 2020 includes a $7.0 million write-off of straight-line rent receivables (Note 2). Straight-line lease revenue is only recognized when deemed probable of collection, and is included within Lease revenues — net-leased within our condensed consolidated financial statements.
(b)
The three months ended March 31, 2020 includes an allowance for credit loss of $4.9 million in connection with our adoption of ASU 2016-13 (Note 2).
(c)
Includes Equity in losses of equity method investment in real estate.
(d)
Included in the all other category are our notes receivable investments, one of which was repaid during the second quarter of 2019.
(e)
Included in unallocated corporate overhead are expenses and other gains and (losses) that are calculated and reported at the portfolio level and not evaluated as part of any segment’s operating performance. Such items include asset management fees, general and administrative expenses, and gains and losses on foreign currency transactions and derivative instruments. Asset management fees totaled $3.0 million and $2.9 million for the three months ended March 31, 2020 and 2019, respectively (Note 3).
XML 50 R25.htm IDEA: XBRL DOCUMENT v3.20.1
Agreements and Transactions with Related Parties (Tables)
 3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following tables present a summary of fees we paid, expenses we reimbursed, and distributions we made to our Advisor and other affiliates in accordance with the terms of the relevant agreements (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Amounts Included in the Condensed Consolidated Statements of Operations
 
 
 
Asset management fees
$
3,002

 
$
2,868

Available Cash Distributions
1,916

 
1,848

Personnel and overhead reimbursements
725

 
798

Interest expense on deferred acquisition fees and external joint venture loans
123

 
127

Disposition fees
—

 
1,117

 
$
5,766

 
$
6,758

 
 
 
 
Acquisition Fees Capitalized
 
 
 
 
 
 
 
Current acquisition fees
$
110

 
$
695

Deferred acquisition fees
88

 
555

Capitalized personnel and overhead reimbursements
70

 
89

 
$
268

 
$
1,339



The following table presents a summary of amounts included in Due to affiliates in the condensed consolidated financial statements (in thousands):
 
March 31, 2020
 
December 31, 2019
Due to Affiliates
 
 
 
External joint venture loans, accounts payable, and other (a)
$
5,360

 
$
5,951

Deferred acquisition fees, including accrued interest
3,007

 
4,456

Asset management fees payable
1,001

 
961

Current acquisition fees
118

 
8

 
$
9,486

 
$
11,376


___________
(a)
Includes loans from our joint venture partners to the jointly owned investments that we consolidate. As of March 31, 2020 and December 31, 2019, loans due to our joint venture partners, including accrued interest, were $4.5 million and $4.6 million, respectively.
XML 51 R4.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues    
Lease revenues — net-leased $ 22,361 $ 30,914
Lease revenues — operating real estate 17,943 17,265
Other operating and interest income 2,576 2,115
Revenues 42,880 50,294
Operating Expenses    
Depreciation and amortization 14,530 15,372
Operating real estate expenses 6,724 6,466
Property expenses, excluding reimbursable tenant costs 5,084 4,651
Allowance for credit losses 4,865 0
Reimbursable tenant costs 3,128 4,024
General and administrative 1,897 1,759
Operating Expenses 36,228 32,272
Other Income and Expenses    
Interest expense (10,489) (12,357)
Other gains and (losses) (2,072) 172
Equity in losses of equity method investment in real estate (54) (648)
Gain on sale of real estate, net 0 15,408
Other Income and Expenses (12,615) 2,575
(Loss) income before income taxes (5,963) 20,597
Benefit from (provision for) income taxes 394 (924)
Net (Loss) Income (5,569) 19,673
Net income attributable to noncontrolling interests (inclusive of Available Cash Distributions to a related party of $1,916 and $1,848, respectively) (2,611) (4,846)
Net (Loss) Income Attributable to CPA:18 – Global (8,180) 14,827
Class A    
Other Income and Expenses    
Net (Loss) Income Attributable to CPA:18 – Global $ (6,398) $ 11,654
Basic and diluted weighted-average shares outstanding (shares) 117,968,262 115,497,094
Basic and diluted (loss) earnings per share (in dollars per share) $ (0.05) $ 0.10
Class C    
Other Income and Expenses    
Interest expense   $ (100)
Net (Loss) Income Attributable to CPA:18 – Global $ (1,782) $ 3,173
Basic and diluted weighted-average shares outstanding (shares) 32,445,640 31,879,027
Basic and diluted (loss) earnings per share (in dollars per share) $ (0.05) $ 0.10
XML 52 R8.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Equity (Unaudited) (Parentheticals) - $ / shares
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Class A    
Statements of Equity    
Distributions declared per share (in dollars per share) $ 0.1563  
Class C    
Statements of Equity    
Distributions declared per share (in dollars per share) 0.1382  
Common Stock | Class A    
Statements of Equity    
Distributions declared per share (in dollars per share) 0.1563 $ 0.1563
Common Stock | Class C    
Statements of Equity    
Distributions declared per share (in dollars per share) $ 0.1382 $ 0.1373
XML 53 R29.htm IDEA: XBRL DOCUMENT v3.20.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of Other Financial Instruments In Carrying Values And Fair Values
Our other financial instruments had the following carrying values and fair values as of the dates shown (dollars in thousands):
 
 
 
March 31, 2020
 
December 31, 2019
 
Level
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Non-recourse secured debt, net (a) (b)
3
 
$
1,183,382

 
$
1,196,712

 
$
1,201,913

 
$
1,239,004

Notes receivable (c)
3
 
28,000

 
30,300

 
28,000

 
30,300

___________
(a)
As of March 31, 2020 and December 31, 2019, the carrying value of Non-recourse secured debt, net includes unamortized deferred financing costs of $6.2 million and $5.8 million, respectively, and unamortized premium, net of $1.3 million and $2.1 million, respectively (Note 9).
(b)
We determined the estimated fair value of our Non-recourse secured debt, net using a discounted cash flow model that estimates the present value of the future loan payments by discounting such payments at current estimated market interest rates. The estimated market interest rates take into account interest rate risk and the value of the underlying collateral, which includes quality of the collateral, the credit quality of the tenant/obligor, and the time until maturity.
(c)
We determined the estimated fair value of our Notes receivable using a discounted cash flow model with rates that take into account the credit of the tenant/obligor, order of payment tranches, and interest rate risk. We also considered the value of the underlying collateral, taking into account the quality of the collateral, the credit quality of the tenant/obligor, the time until maturity, and the current market interest rate.
XML 54 R36.htm IDEA: XBRL DOCUMENT v3.20.1
Basis of Presentation - Variable Interest Entity Disclosure (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Assets    
Real estate — Land, buildings and improvements $ 1,158,497 $ 1,200,645
Real estate under construction 267,044 235,751
In-place lease intangible assets 276,196 284,097
Accumulated depreciation and amortization (335,051) (328,312)
Total assets [1] 2,149,544 2,234,803
Liabilities    
Non-recourse secured debt, net 1,183,382 1,201,913
Total liabilities [1] 1,357,611 1,383,132
VIE    
Assets    
Real estate — Land, buildings and improvements 343,342 359,886
Real estate under construction 267,044 233,220
In-place lease intangible assets 98,588 101,198
Accumulated depreciation and amortization (79,634) (78,598)
Total assets 661,082 642,648
Liabilities    
Non-recourse secured debt, net 287,069 276,124
Total liabilities $ 342,183 $ 330,549
[1] See Note 2 for details related to variable interest entities (“VIEs”).
XML 55 R32.htm IDEA: XBRL DOCUMENT v3.20.1
(Loss) Earnings Per Share and Equity (Tables)
 3 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
Basic and Diluted Loss Per Share
The following table presents (loss) earnings per share (in thousands, except share and per share amounts):
 
Three Months Ended March 31,
 
2020
 
2019
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Loss
 
Basic and Diluted Loss Per Share 
 
Basic and Diluted Weighted-Average
Shares Outstanding
 
Allocation of Net Income
 
Basic and Diluted Earnings Per Share 
Class A common stock
117,968,262

 
$
(6,398
)
 
$
(0.05
)
 
115,497,094

 
$
11,654

 
$
0.10

Class C common stock
32,445,640

 
(1,782
)
 
(0.05
)
 
31,879,027

 
3,173

 
0.10

Net (loss) income attributable to CPA:18 – Global
 
 
$
(8,180
)
 
 
 
 
 
$
14,827

 
 
Reclassification out of Accumulated Other Comprehensive Income
The following tables present a reconciliation of changes in Accumulated other comprehensive loss by component for the periods presented (in thousands):
 
Three Months Ended March 31, 2020
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
138

 
$
(56,673
)
 
$
(56,535
)
Other comprehensive loss before reclassifications
(1,622
)
 
(24,082
)
 
(25,704
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(397
)
 
—

 
(397
)
Interest expense
196

 
—

 
196

Net current-period other comprehensive loss
(1,823
)
 
(24,082
)
 
(25,905
)
Net current-period other comprehensive loss attributable to noncontrolling interests
—

 
2,528

 
2,528

Ending balance
$
(1,685
)
 
$
(78,227
)
 
$
(79,912
)

 
Three Months Ended March 31, 2019
 
Gains and (Losses) on Derivative Instruments
 
Foreign Currency Translation Adjustments
 
Total
Beginning balance
$
2,215

 
$
(52,808
)
 
$
(50,593
)
Other comprehensive loss before reclassifications
143

 
(4,242
)
 
(4,099
)
Amounts reclassified from accumulated other comprehensive loss to:
 
 
 
 
 
Other gains and (losses)
(357
)
 
—

 
(357
)
Interest expense
(24
)
 
—

 
(24
)
Net current-period other comprehensive loss
(238
)
 
(4,242
)
 
(4,480
)
Net current-period other comprehensive loss attributable to noncontrolling interests
—

 
158

 
158

Ending balance
$
1,977

 
$
(56,892
)
 
$
(54,915
)
XML 56 R19.htm IDEA: XBRL DOCUMENT v3.20.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies
Commitments and Contingencies

As of March 31, 2020, we were not involved in any material litigation. Various claims and lawsuits arising in the normal course of business are pending against us. The results of these proceedings are not expected to have a material adverse effect on our condensed consolidated financial statements of operations or results of operations.

See Note 4 for unfunded construction commitments.
XML 57 R11.htm IDEA: XBRL DOCUMENT v3.20.1
Basis of Presentation
 3 Months Ended
Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation

Basis of Presentation

Our interim condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of our condensed consolidated financial position, results of operations, and cash flows in accordance with generally accepted accounting principles in the United States (“GAAP”). The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP.
 
In the opinion of management, the unaudited financial information for the interim periods presented in this Report reflects all normal and recurring adjustments necessary for a fair statement of financial position, results of operations, and cash flows. Our interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and accompanying notes for the year ended December 31, 2019, which are included in the 2019 Annual Report, as certain disclosures that would substantially duplicate those contained in the audited consolidated financial statements have not been included in this Report. Operating results for interim periods are not necessarily indicative of operating results for an entire year.
 
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and the disclosure of contingent amounts in our condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.

Basis of Consolidation

Our condensed consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries. The portions of equity in consolidated subsidiaries that are not attributable, directly or indirectly, to us are presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated.

When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed a VIE and, if so, whether we are the primary beneficiary and are therefore required to consolidate the entity. There have been no significant changes in our VIE policies from what was disclosed in the 2019 Annual Report.

As of both March 31, 2020 and December 31, 2019, we considered 19 entities to be VIEs, 18 of which we consolidated as we are considered the primary beneficiary. The following table presents a summary of selected financial data of the consolidated VIEs included in the condensed consolidated balance sheets (in thousands):
 
March 31, 2020
 
December 31, 2019
Real estate — Land, buildings and improvements
$
343,342

 
$
359,886

Real estate under construction
267,044

 
233,220

In-place lease intangible assets
98,588

 
101,198

Accumulated depreciation and amortization
(79,634
)
 
(78,598
)
Total assets
661,082

 
642,648

 
 
 
 
Non-recourse secured debt, net
$
287,069

 
$
276,124

Total liabilities
342,183

 
330,549



As of both March 31, 2020 and December 31, 2019, we had one unconsolidated VIE, which we account for under the equity method of accounting. We do not consolidate this entity because we are not the primary beneficiary and the nature of our involvement in the activities of the entity allows us to exercise significant influence on, but does not give us power over, decisions that significantly affect the economic performance of the entity. As of March 31, 2020 and December 31, 2019, the net carrying amount of this equity investment was $13.2 million and $14.9 million, respectively, and our maximum exposure to loss in this entity is limited to our investment. 

Foreign Currencies

We are subject to fluctuations in exchange rates between foreign currencies and the U.S. dollar (primarily the euro and the Norwegian krone and, to a lesser extent, the British pound sterling). The following table reflects the end-of-period rate of the U.S. dollar in relation to foreign currencies:
 
March 31, 2020
 
December 31, 2019
 
Percent Change
British Pound Sterling
$
1.2360

 
$
1.3204

 
(6.4
)%
Euro
1.0956

 
1.1234

 
(2.5
)%
Norwegian Krone
0.0952

 
0.1139

 
(16.4
)%


Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation.

We currently present Reimbursable tenant costs on its own line item in the condensed consolidated statements of operations. Previously, this line item was included within Property expenses (which is now presented as Property expenses, excluding reimbursable tenant costs).

Revenue Recognition

Lease revenue (including straight-line lease revenue) is only recognized when deemed probable of collection. Collectibility is assessed for each tenant receivable using various criteria including credit ratings, guarantees, past collection issues, and the current economic and business environment affecting the tenant. If collectibility of the contractual rent stream is not deemed probable, revenue will only be recognized upon receipt of cash from the tenant. During the three months ended March 31, 2020, we wrote off $7.0 million in straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels.

Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the condensed consolidated statements of cash flows (in thousands):
 
March 31, 2020
 
December 31, 2019
Cash and cash equivalents
$
104,939

 
$
144,148

Restricted cash (a)
26,963

 
19,250

Total cash and cash equivalents and restricted cash
$
131,902

 
$
163,398

__________
(a)
Restricted cash is included within Accounts receivable and other assets, net on our condensed consolidated balance sheets.

Deferred Income Taxes

Our deferred tax liabilities were $42.9 million and $48.6 million at March 31, 2020 and December 31, 2019, respectively, and are included in Accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements. Our deferred tax assets, net of valuation allowances, were $1.5 million and $1.4 million at March 31, 2020 and December 31, 2019, respectively, and are included in Accounts receivable and other assets, net in the condensed consolidated financial statements.

Recent Accounting Pronouncements

Pronouncements Adopted through March 31, 2020

In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13, Financial Instruments — Credit Losses. ASU 2016-13 replaces the “incurred loss” model with an “expected loss” model, resulting in the earlier recognition of credit losses even if the risk of loss is remote. This standard applies to financial assets measured at amortized cost and certain other instruments, including loans receivable and net investments in direct financing leases. This standard does not apply to receivables arising from operating leases, which are within the scope of Topic 842.

We adopted ASU 2016-13 on January 1, 2020 using the modified retrospective method, which requires applying changes in reserves through a cumulative-effect adjustment to retained earnings. Upon adoption, we recorded a net decrease in retained earnings of $6.9 million, which is reflected within our consolidated statement of equity.

The allowance for credit losses, which is recorded as a reduction to Net investments in direct financing leases on our condensed consolidated balance sheets, was measured using a probability of default method based on the lessees’ respective credit ratings and the expected value of the underlying collateral upon its repossession. Included in our model are factors that incorporate forward-looking information.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 contains practical expedients for reference rate reform-related activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future London Interbank Offered Rate indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We will continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.
XML 58 R15.htm IDEA: XBRL DOCUMENT v3.20.1
Intangible Assets and Liabilities
 3 Months Ended
Mar. 31, 2020
Intangible Assets And Liabilities [Abstract]  
Intangible Assets and Liabilities
Intangible Assets and Liabilities

In-place lease and above-market rent intangibles are included in In-place lease and other intangible assets in the condensed consolidated financial statements. Below-market rent intangibles are included in Accounts payable, accrued expenses and other liabilities in the condensed consolidated financial statements.

Goodwill is included in our Net Lease segment and included in Accounts receivable and other assets, net in the condensed consolidated financial statements. As a result of foreign currency translation adjustments, goodwill decreased from $26.0 million as of December 31, 2019 to $23.2 million as of March 31, 2020.

Intangible assets and liabilities are summarized as follows (in thousands):
 
 
 
March 31, 2020
 
December 31, 2019
 
Amortization Period (Years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Finite-Lived Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
In-place lease
6 – 23
 
$
232,546

 
$
(131,852
)
 
$
100,694

 
$
238,771

 
$
(131,012
)
 
$
107,759

Above-market rent
7 – 30
 
9,929

 
(4,187
)
 
5,742

 
10,257

 
(4,141
)
 
6,116

 
 
 
242,475

 
(136,039
)
 
106,436

 
249,028

 
(135,153
)
 
113,875

Indefinite-Lived Intangible Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Goodwill
 
 
23,179

 
—

 
23,179

 
26,024

 
—

 
26,024

Total intangible assets
 
 
$
265,654

 
$
(136,039
)
 
$
129,615

 
$
275,052

 
$
(135,153
)
 
$
139,899

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Finite-Lived Intangible Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
Below-market rent
6 – 30
 
$
(14,930
)
 
$
6,875

 
$
(8,055
)
 
$
(14,974
)
 
$
6,627

 
$
(8,347
)
Total intangible liabilities
 
 
$
(14,930
)
 
$
6,875

 
$
(8,055
)
 
$
(14,974
)
 
$
6,627

 
$
(8,347
)


Net amortization of intangibles, including the effect of foreign currency translation, was $3.5 million and $3.9 million for the three months ended March 31, 2020 and 2019, respectively. Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Rental income; and amortization of in-place lease intangibles is included in Depreciation and amortization expense.
XML 59 R53.htm IDEA: XBRL DOCUMENT v3.20.1
Risk Management and Use of Derivative Financial Instruments - Narratives (Details) - USD ($)
 3 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Derivative    
Cash collateral posted $ 0 $ 0
Derivative instrument remaining maturity period 72 months  
Collateral received $ 0  
Total credit exposure 2,400,000  
Derivative in net liability position 4,700,000 2,100,000
Termination value of assets 5,000,000 $ 2,200,000
Individual Counterparty    
Derivative    
Total credit exposure 1,200,000  
Interest expense    
Derivative    
Estimated amount of derivative gain (loss) to be reclassified in the next 12 months (1,900,000)  
Other income    
Derivative    
Estimated amount of derivative gain (loss) to be reclassified in the next 12 months $ 1,600,000  
XML 60 R57.htm IDEA: XBRL DOCUMENT v3.20.1
Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Recognized in Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Amount of Gain on Derivatives Recognized in Income    
Amount of Gain on Derivatives Recognized in Income $ 275 $ 124
Derivatives Not Designated as Hedging Instruments | Foreign currency collars | Other gains and (losses)    
Amount of Gain on Derivatives Recognized in Income    
Amount of Gain on Derivatives Recognized in Income 81 118
Derivatives Not Designated as Hedging Instruments | Interest rate swap(s) | Interest expense    
Amount of Gain on Derivatives Recognized in Income    
Amount of Gain on Derivatives Recognized in Income 8 0
Derivatives Not Designated as Hedging Instruments | Foreign currency forward contracts | Other gains and (losses)    
Amount of Gain on Derivatives Recognized in Income    
Amount of Gain on Derivatives Recognized in Income 7 0
Derivatives Designated as Hedging Instruments | Foreign currency collars | Other gains and (losses)    
Amount of Gain on Derivatives Recognized in Income    
Amount of Gain on Derivatives Recognized in Income 0 7
Derivatives Designated as Hedging Instruments | Interest rate swap(s) | Interest expense    
Amount of Gain on Derivatives Recognized in Income    
Amount of Gain on Derivatives Recognized in Income $ 179 $ (1)
XML 61 R61.htm IDEA: XBRL DOCUMENT v3.20.1
Non-Recourse Secured Debt, Net - Schedule of Debt Principal Payments (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Long-term Debt, Fiscal Year Maturity    
2020 (remainder) $ 59,686  
2021 151,979  
2022 189,208  
2023 203,916  
2024 198,335  
Thereafter through 2039 385,187  
Long term debt gross 1,188,311  
Unamortized deferred financing costs (6,244) $ (5,800)
Unamortized premium, net 1,315 $ 2,100
Debt, net $ 1,183,382  
XML 62 R65.htm IDEA: XBRL DOCUMENT v3.20.1
Segment Reporting - Narratives (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
USD ($)
segment
Mar. 31, 2019
USD ($)
Segment Reporting Information    
Number of reportable segments | segment 3  
Accounts receivable written off during the period $ 2,800  
Allowance for credit losses 4,900  
Asset management fees 3,002 $ 2,868
Asset management fees    
Segment Reporting Information    
Asset management fees 3,000 2,900
Net Lease | Operating Segments    
Segment Reporting Information    
Straight line rent adjustment 700 $ 900
Lease revenues — net-leased    
Segment Reporting Information    
Accounts receivable written off during the period $ 7,000  
XML 63 R46.htm IDEA: XBRL DOCUMENT v3.20.1
Finance Receivables - Narratives (Details) - USD ($)
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Jan. 01, 2020
Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable        
Adjustments to retained earnings $ 508,253,000     $ 470,326,000
Allowance for credit losses 4,900,000      
Interest income from direct financing lease 1,000,000 $ 1,000,000    
Cumulative Effect, Period of Adoption, Adjustments        
Accounts, Notes, Loans and Financing Receivable        
Adjustments to retained earnings     $ (6,900,000)  
Cipriani        
Accounts, Notes, Loans and Financing Receivable        
Notes receivable, principal amount $ 28,000,000.0      
Accounts receivable, term 10 years      
Stated interest rate (percent) 10.00%      
Notes receivable $ 28,000,000     $ 28,000,000
Interest income 700,000 $ 1,800,000    
Cipriani | Third Party        
Accounts, Notes, Loans and Financing Receivable        
Senior notes $ 60,000,000      
XML 64 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 65 R42.htm IDEA: XBRL DOCUMENT v3.20.1
Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Narratives (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
USD ($)
property
Mar. 31, 2019
USD ($)
Dec. 31, 2019
USD ($)
Apr. 15, 2019
Real Estate Properties        
Decrease due to exchange rate fluctuation $ 24,082 $ 4,242    
Accounts receivable written off during the period 2,800      
Interest income from direct financing lease 1,000 1,000    
Capitalized interest $ 2,003      
Number of properties | property 47      
Lease revenues- net-leased        
Real Estate Properties        
Accounts receivable written off during the period $ 7,000      
Noncash investing        
Real Estate Properties        
Accrued liabilities 2,500      
Real Estate        
Real Estate Properties        
Decrease due to exchange rate fluctuation 41,900      
Depreciation expense 7,100 7,500    
Operating Real Estate        
Real Estate Properties        
Decrease due to exchange rate fluctuation 7,200      
Depreciation expense $ 3,800 $ 3,800    
Build To Suit Projects        
Real Estate Properties        
Number of BTS projects | property 12      
Unfunded commitment $ 237,000      
Equity method investments        
Real Estate Properties        
Equity investment in real estate 13,200   $ 14,900  
Equity method investment, liabilities $ 29,300   $ 32,200  
Equity method investments | Self Storage        
Real Estate Properties        
Number of properties | property 3      
Equity method investments ownership (percent)       100.00%
XML 66 R2.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Investments in real estate:    
Real estate — Land, buildings and improvements $ 1,158,497 $ 1,200,645
Operating real estate — Land, buildings and improvements 505,326 512,485
Real estate under construction 267,044 235,751
Net investments in direct financing leases 30,338 42,054
In-place lease and other intangible assets 276,196 284,097
Investments in real estate 2,237,401 2,275,032
Accumulated depreciation and amortization (335,051) (328,312)
Net investments in real estate 1,902,350 1,946,720
Cash and cash equivalents 104,939 144,148
Accounts receivable and other assets, net 142,255 143,935
Total assets [1] 2,149,544 2,234,803
Liabilities and Equity    
Non-recourse secured debt, net 1,183,382 1,201,913
Accounts payable, accrued expenses and other liabilities 141,899 147,098
Due to affiliates 9,486 11,376
Distributions payable 22,844 22,745
Total liabilities [1] 1,357,611 1,383,132
Commitments and contingencies (Note 10)
Preferred stock, $0.001 par value; 50,000,000 shares authorized; none issued 0 0
Additional paid-in capital 1,323,827 1,319,584
Distributions and accumulated losses (508,253) (470,326)
Accumulated other comprehensive loss (79,912) (56,535)
Total stockholders’ equity 735,811 792,872
Noncontrolling interests 56,122 58,799
Total equity 791,933 851,671
Total liabilities and equity 2,149,544 2,234,803
Class A common stock    
Liabilities and Equity    
Common stock 117 117
Class C common stock    
Liabilities and Equity    
Common stock $ 32 $ 32
[1] See Note 2 for details related to variable interest entities (“VIEs”).
XML 67 R23.htm IDEA: XBRL DOCUMENT v3.20.1
Basis of Presentation (Policies)
 3 Months Ended
Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation

Our interim condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not necessarily include all information and footnotes necessary for a fair statement of our condensed consolidated financial position, results of operations, and cash flows in accordance with generally accepted accounting principles in the United States (“GAAP”).
Basis of Consolidation
Basis of Consolidation

Our condensed consolidated financial statements reflect all of our accounts, including those of our controlled subsidiaries. The portions of equity in consolidated subsidiaries that are not attributable, directly or indirectly, to us are presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated.
Variable Interest Entity
When we obtain an economic interest in an entity, we evaluate the entity to determine if it should be deemed a VIE and, if so, whether we are the primary beneficiary and are therefore required to consolidate the entity.
Recent Accounting Pronouncements
Recent Accounting Pronouncements

Pronouncements Adopted through March 31, 2020

In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-13, Financial Instruments — Credit Losses. ASU 2016-13 replaces the “incurred loss” model with an “expected loss” model, resulting in the earlier recognition of credit losses even if the risk of loss is remote. This standard applies to financial assets measured at amortized cost and certain other instruments, including loans receivable and net investments in direct financing leases. This standard does not apply to receivables arising from operating leases, which are within the scope of Topic 842.

We adopted ASU 2016-13 on January 1, 2020 using the modified retrospective method, which requires applying changes in reserves through a cumulative-effect adjustment to retained earnings. Upon adoption, we recorded a net decrease in retained earnings of $6.9 million, which is reflected within our consolidated statement of equity.

The allowance for credit losses, which is recorded as a reduction to Net investments in direct financing leases on our condensed consolidated balance sheets, was measured using a probability of default method based on the lessees’ respective credit ratings and the expected value of the underlying collateral upon its repossession. Included in our model are factors that incorporate forward-looking information.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-04 contains practical expedients for reference rate reform-related activities that impact debt, leases, derivatives, and other contracts. The guidance in ASU 2020-04 is optional and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, we elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future London Interbank Offered Rate indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. Application of these expedients preserves the presentation of derivatives consistent with past presentation. We will continue to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.
Intangible Assets and Liabilities
Amortization of below-market rent and above-market rent intangibles is recorded as an adjustment to Rental income; and amortization of in-place lease intangibles is included in Depreciation and amortization expense.
Fair Value Measurements
Derivative Assets and Liabilities — Our derivative assets and liabilities, which are included in Accounts receivable and other assets, net and Accounts payable, accrued expenses and other liabilities, respectively, in the condensed consolidated financial statements, are comprised of foreign currency forward contracts, interest rate swaps, interest rate caps, and foreign currency collars (Note 8).

The valuation of our derivative instruments is determined using a discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves, spot and forward rates, and implied volatilities. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative instruments for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. These derivative instruments were classified as Level 2 as these instruments are custom, over-the-counter contracts with various bank counterparties that are not traded in an active market.

The fair value of an asset is defined as the exit price, which is the amount that would either be received when an asset is sold or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The guidance establishes a three-tier fair value hierarchy based on the inputs used in measuring fair value. These tiers are: Level 1, for which quoted market prices for identical instruments are available in active markets, such as money market funds, equity securities, and U.S. Treasury securities; Level 2, for which there are inputs other than quoted prices included within Level 1 that are observable for the instrument, such as certain derivative instruments including interest rate caps, interest rate swaps, foreign currency forward contracts and foreign currency collars; and Level 3, for securities that do not fall into Level 1 or Level 2 and for which little or no market data exists, therefore requiring us to develop our own assumptions.
XML 68 R27.htm IDEA: XBRL DOCUMENT v3.20.1
Finance Receivables (Tables)
 3 Months Ended
Mar. 31, 2020
Receivables [Abstract]  
Net Investments in Direct Financing Leases
Net investments in our direct financing lease investments is summarized as follows (in thousands):
 
March 31, 2020
 
December 31, 2019
Lease payments receivable
$
54,419

 
$
55,278

Unguaranteed residual value
39,401

 
39,401

 
93,820

 
94,679

Less: unearned income
(51,714
)
 
(52,625
)
Less: allowance for credit losses (a)
(11,768
)
 
—

 
$
30,338

 
$
42,054
Financing Receivable Credit Quality Indicators
A summary of our finance receivables by internal credit quality rating is as follows (dollars in thousands):
 
 
Number of Tenants/Obligors at
 
Carrying Value at
Internal Credit Quality Indicator
 
March 31, 2020
 
December 31, 2019
 
March 31, 2020
 
December 31, 2019
1 – 3
 
4
 
4
 
$
44,964

 
$
45,457

4
 
1
 
1
 
13,374

 
24,597

5
 
—
 
—
 
—

 
—

 
 
0
 
 
 
$
58,338

 
$
70,054
XML 69 R6.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Statement of Comprehensive Income [Abstract]    
Net (Loss) Income $ (5,569) $ 19,673
Other Comprehensive Loss    
Foreign currency translation adjustments (24,082) (4,242)
Unrealized loss on derivative instruments (1,823) (238)
Other Comprehensive Loss (25,905) (4,480)
Comprehensive (Loss) Income (31,474) 15,193
Amounts Attributable to Noncontrolling Interests    
Net income (2,611) (4,846)
Foreign currency translation adjustments 2,525 158
Unrealized loss on derivative instruments 3 0
Comprehensive income attributable to noncontrolling interests (83) (4,688)
Comprehensive (Loss) Income Attributable to CPA:18 – Global $ (31,557) $ 10,505
XML 70 R60.htm IDEA: XBRL DOCUMENT v3.20.1
Non-Recourse Secured Debt, Net - Narratives (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 13, 2020
Dec. 31, 2019
Debt Instruments        
Non-recourse secured debt, net $ 1,183,382     $ 1,201,913
Decrease due to exchange rate fluctuation 24,082 $ 4,242    
Long-term debt        
Debt Instruments        
Decrease due to exchange rate fluctuation $ 35,700      
Construction Loans | Student Housing in Barcelona, Spain        
Debt Instruments        
Maximum line of credit approved by directors     $ 22,500  
Weighted average variable interest rate (percent) 2.10%      
Non-recourse secured debt, net $ 16,800      
Fixed Interest Rate        
Debt Instruments        
Weighted average interest rate (percent) 4.00%      
Variable Interest Rate        
Debt Instruments        
Weighted average interest rate (percent) 3.70%      
XML 71 FilingSummary.xml IDEA: XBRL DOCUMENT 3.20.1 html 256 347 1 true 86 0 false 13 false false R1.htm 0001000 - Document - Document and Entity Information Sheet http://www.cpa18global.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 1001000 - Statement - Condensed Consolidated Balance Sheets (Unaudited) Sheet http://www.cpa18global.com/role/CondensedConsolidatedBalanceSheetsUnaudited Condensed Consolidated Balance Sheets (Unaudited) Statements 2 false false R3.htm 1001501 - Statement - Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) Sheet http://www.cpa18global.com/role/CondensedConsolidatedBalanceSheetsUnauditedParentheticals Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) Statements 3 false false R4.htm 1002000 - Statement - Condensed Consolidated Statements of Operations (Unaudited) Sheet http://www.cpa18global.com/role/CondensedConsolidatedStatementsOfOperationsUnaudited Condensed Consolidated Statements of Operations (Unaudited) Statements 4 false false R5.htm 1002501 - Statement - Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) Sheet http://www.cpa18global.com/role/CondensedConsolidatedStatementsOfOperationsUnauditedParentheticals Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) Statements 5 false false R6.htm 1003000 - Statement - Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) Sheet http://www.cpa18global.com/role/CondensedConsolidatedStatementsOfComprehensiveLossIncomeUnaudited Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) Statements 6 false false R7.htm 1004000 - Statement - Condensed Consolidated Statements of Equity (Unaudited) Sheet http://www.cpa18global.com/role/CondensedConsolidatedStatementsOfEquityUnaudited Condensed Consolidated Statements of Equity (Unaudited) Statements 7 false false R8.htm 1004501 - Statement - Condensed Consolidated Statements of Equity (Unaudited) (Parentheticals) Sheet http://www.cpa18global.com/role/CondensedConsolidatedStatementsOfEquityUnauditedParentheticals Condensed Consolidated Statements of Equity (Unaudited) (Parentheticals) Statements 8 false false R9.htm 1005000 - Statement - Condensed Consolidated Statements of Cash Flows (Unaudited) Sheet http://www.cpa18global.com/role/CondensedConsolidatedStatementsOfCashFlowsUnaudited Condensed Consolidated Statements of Cash Flows (Unaudited) Statements 9 false false R10.htm 2101100 - Disclosure - Organization Sheet http://www.cpa18global.com/role/Organization Organization Notes 10 false false R11.htm 2103100 - Disclosure - Basis of Presentation Sheet http://www.cpa18global.com/role/BasisOfPresentation Basis of Presentation Notes 11 false false R12.htm 2104100 - Disclosure - Agreements and Transactions with Related Parties Sheet http://www.cpa18global.com/role/AgreementsAndTransactionsWithRelatedParties Agreements and Transactions with Related Parties Notes 12 false false R13.htm 2105100 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate Sheet http://www.cpa18global.com/role/RealEstateOperatingRealEstateRealEstateUnderConstructionAndEquityInvestmentInRealEstate Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate Notes 13 false false R14.htm 2107100 - Disclosure - Finance Receivables Sheet http://www.cpa18global.com/role/FinanceReceivables Finance Receivables Notes 14 false false R15.htm 2108100 - Disclosure - Intangible Assets and Liabilities Sheet http://www.cpa18global.com/role/IntangibleAssetsAndLiabilities Intangible Assets and Liabilities Notes 15 false false R16.htm 2109100 - Disclosure - Fair Value Measurements Sheet http://www.cpa18global.com/role/FairValueMeasurements Fair Value Measurements Notes 16 false false R17.htm 2110100 - Disclosure - Risk Management and Use of Derivative Financial Instruments Sheet http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstruments Risk Management and Use of Derivative Financial Instruments Notes 17 false false R18.htm 2111100 - Disclosure - Non-Recourse Secured Debt, Net Sheet http://www.cpa18global.com/role/NonRecourseSecuredDebtNet Non-Recourse Secured Debt, Net Notes 18 false false R19.htm 2112100 - Disclosure - Commitments and Contingencies Sheet http://www.cpa18global.com/role/CommitmentsAndContingencies Commitments and Contingencies Notes 19 false false R20.htm 2113100 - Disclosure - (Loss) Earnings Per Share and Equity Sheet http://www.cpa18global.com/role/LossEarningsPerShareAndEquity (Loss) Earnings Per Share and Equity Notes 20 false false R21.htm 2114100 - Disclosure - Segment Reporting Sheet http://www.cpa18global.com/role/SegmentReporting Segment Reporting Notes 21 false false R22.htm 2115100 - Disclosure - Subsequent Events Sheet http://www.cpa18global.com/role/SubsequentEvents Subsequent Events Notes 22 false false R23.htm 2203201 - Disclosure - Basis of Presentation (Policies) Sheet http://www.cpa18global.com/role/BasisOfPresentationPolicies Basis of Presentation (Policies) Policies 23 false false R24.htm 2303302 - Disclosure - Basis of Presentation Basis of Presentation (Tables) Sheet http://www.cpa18global.com/role/BasisOfPresentationBasisOfPresentationTables Basis of Presentation Basis of Presentation (Tables) Tables 24 false false R25.htm 2304301 - Disclosure - Agreements and Transactions with Related Parties (Tables) Sheet http://www.cpa18global.com/role/AgreementsAndTransactionsWithRelatedPartiesTables Agreements and Transactions with Related Parties (Tables) Tables http://www.cpa18global.com/role/AgreementsAndTransactionsWithRelatedParties 25 false false R26.htm 2305301 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate (Tables) Sheet http://www.cpa18global.com/role/RealEstateOperatingRealEstateRealEstateUnderConstructionAndEquityInvestmentInRealEstateTables Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate (Tables) Tables http://www.cpa18global.com/role/RealEstateOperatingRealEstateRealEstateUnderConstructionAndEquityInvestmentInRealEstate 26 false false R27.htm 2307301 - Disclosure - Finance Receivables (Tables) Sheet http://www.cpa18global.com/role/FinanceReceivablesTables Finance Receivables (Tables) Tables http://www.cpa18global.com/role/FinanceReceivables 27 false false R28.htm 2308301 - Disclosure - Intangible Assets and Liabilities (Tables) Sheet http://www.cpa18global.com/role/IntangibleAssetsAndLiabilitiesTables Intangible Assets and Liabilities (Tables) Tables http://www.cpa18global.com/role/IntangibleAssetsAndLiabilities 28 false false R29.htm 2309301 - Disclosure - Fair Value Measurements (Tables) Sheet http://www.cpa18global.com/role/FairValueMeasurementsTables Fair Value Measurements (Tables) Tables http://www.cpa18global.com/role/FairValueMeasurements 29 false false R30.htm 2310301 - Disclosure - Risk Management and Use of Derivative Financial Instruments (Tables) Sheet http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstrumentsTables Risk Management and Use of Derivative Financial Instruments (Tables) Tables http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstruments 30 false false R31.htm 2311301 - Disclosure - Non-Recourse Secured Debt, Net (Tables) Sheet http://www.cpa18global.com/role/NonRecourseSecuredDebtNetTables Non-Recourse Secured Debt, Net (Tables) Tables http://www.cpa18global.com/role/NonRecourseSecuredDebtNet 31 false false R32.htm 2313301 - Disclosure - (Loss) Earnings Per Share and Equity (Tables) Sheet http://www.cpa18global.com/role/LossEarningsPerShareAndEquityTables (Loss) Earnings Per Share and Equity (Tables) Tables http://www.cpa18global.com/role/LossEarningsPerShareAndEquity 32 false false R33.htm 2314301 - Disclosure - Segment Reporting (Tables) Sheet http://www.cpa18global.com/role/SegmentReportingTables Segment Reporting (Tables) Tables http://www.cpa18global.com/role/SegmentReporting 33 false false R34.htm 2401401 - Disclosure - Organization - Narratives (Details) Sheet http://www.cpa18global.com/role/OrganizationNarrativesDetails Organization - Narratives (Details) Details 34 false false R35.htm 2403403 - Disclosure - Basis of Presentation - Narratives (Details) Sheet http://www.cpa18global.com/role/BasisOfPresentationNarrativesDetails Basis of Presentation - Narratives (Details) Details 35 false false R36.htm 2403404 - Disclosure - Basis of Presentation - Variable Interest Entity Disclosure (Details) Sheet http://www.cpa18global.com/role/BasisOfPresentationVariableInterestEntityDisclosureDetails Basis of Presentation - Variable Interest Entity Disclosure (Details) Details 36 false false R37.htm 2403405 - Disclosure - Basis of Presentation - Foreign Currencies (Details) Sheet http://www.cpa18global.com/role/BasisOfPresentationForeignCurrenciesDetails Basis of Presentation - Foreign Currencies (Details) Details 37 false false R38.htm 2403406 - Disclosure - Basis of Presentation - Cash, Cash Equivalents, and Restricted Cash Equivalents Reconciliation (Details) Sheet http://www.cpa18global.com/role/BasisOfPresentationCashCashEquivalentsAndRestrictedCashEquivalentsReconciliationDetails Basis of Presentation - Cash, Cash Equivalents, and Restricted Cash Equivalents Reconciliation (Details) Details 38 false false R39.htm 2404402 - Disclosure - Agreements and Transactions with Related Parties - Narratives (Details) Sheet http://www.cpa18global.com/role/AgreementsAndTransactionsWithRelatedPartiesNarrativesDetails Agreements and Transactions with Related Parties - Narratives (Details) Details 39 false false R40.htm 2404403 - Disclosure - Agreements and Transactions with Related Parties - Related Party Income (Details) Sheet http://www.cpa18global.com/role/AgreementsAndTransactionsWithRelatedPartiesRelatedPartyIncomeDetails Agreements and Transactions with Related Parties - Related Party Income (Details) Details 40 false false R41.htm 2404404 - Disclosure - Agreements and Transactions with Related Parties - Due to Affiliates (Details) Sheet http://www.cpa18global.com/role/AgreementsAndTransactionsWithRelatedPartiesDueToAffiliatesDetails Agreements and Transactions with Related Parties - Due to Affiliates (Details) Details 41 false false R42.htm 2405402 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Narratives (Details) Sheet http://www.cpa18global.com/role/RealEstateOperatingRealEstateRealEstateUnderConstructionAndEquityInvestmentInRealEstateNarrativesDetails Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Narratives (Details) Details http://www.cpa18global.com/role/RealEstateOperatingRealEstateRealEstateUnderConstructionAndEquityInvestmentInRealEstateTables 42 false false R43.htm 2405403 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Property Plant and Equipment (Details) Sheet http://www.cpa18global.com/role/RealEstateOperatingRealEstateRealEstateUnderConstructionAndEquityInvestmentInRealEstatePropertyPlantAndEquipmentDetails Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Property Plant and Equipment (Details) Details 43 false false R44.htm 2405404 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Operating Lease Income (Details) Sheet http://www.cpa18global.com/role/RealEstateOperatingRealEstateRealEstateUnderConstructionAndEquityInvestmentInRealEstateOperatingLeaseIncomeDetails Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Operating Lease Income (Details) Details http://www.cpa18global.com/role/RealEstateOperatingRealEstateRealEstateUnderConstructionAndEquityInvestmentInRealEstateTables 44 false false R45.htm 2405405 - Disclosure - Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Rollforward of Real Estate Under Construction (Details) Sheet http://www.cpa18global.com/role/RealEstateOperatingRealEstateRealEstateUnderConstructionAndEquityInvestmentInRealEstateRollforwardOfRealEstateUnderConstructionDetails Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Rollforward of Real Estate Under Construction (Details) Details 45 false false R46.htm 2407402 - Disclosure - Finance Receivables - Narratives (Details) Sheet http://www.cpa18global.com/role/FinanceReceivablesNarrativesDetails Finance Receivables - Narratives (Details) Details 46 false false R47.htm 2407403 - Disclosure - Finance Receivables - Net Investments in Direct Financing Leases (Details) Sheet http://www.cpa18global.com/role/FinanceReceivablesNetInvestmentsInDirectFinancingLeasesDetails Finance Receivables - Net Investments in Direct Financing Leases (Details) Details 47 false false R48.htm 2407404 - Disclosure - Finance Receivables - Internal Credit Quality Rating (Details) Sheet http://www.cpa18global.com/role/FinanceReceivablesInternalCreditQualityRatingDetails Finance Receivables - Internal Credit Quality Rating (Details) Details 48 false false R49.htm 2408402 - Disclosure - Intangible Assets and Liabilities - Narratives (Details) Sheet http://www.cpa18global.com/role/IntangibleAssetsAndLiabilitiesNarrativesDetails Intangible Assets and Liabilities - Narratives (Details) Details 49 false false R50.htm 2408403 - Disclosure - Intangible Assets and Liabilities - Intangible Assets and Liabilities Summary (Details) Sheet http://www.cpa18global.com/role/IntangibleAssetsAndLiabilitiesIntangibleAssetsAndLiabilitiesSummaryDetails Intangible Assets and Liabilities - Intangible Assets and Liabilities Summary (Details) Details 50 false false R51.htm 2409402 - Disclosure - Fair Value Measurements - Narratives (Details) Sheet http://www.cpa18global.com/role/FairValueMeasurementsNarrativesDetails Fair Value Measurements - Narratives (Details) Details 51 false false R52.htm 2409403 - Disclosure - Fair Value Measurements - Carrying Value and Fair Value Measurements (Details) Sheet http://www.cpa18global.com/role/FairValueMeasurementsCarryingValueAndFairValueMeasurementsDetails Fair Value Measurements - Carrying Value and Fair Value Measurements (Details) Details 52 false false R53.htm 2410402 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Narratives (Details) Sheet http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstrumentsNarrativesDetails Risk Management and Use of Derivative Financial Instruments - Narratives (Details) Details http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstrumentsTables 53 false false R54.htm 2410403 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Information Regarding Derivative Instruments (Details) Sheet http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstrumentsInformationRegardingDerivativeInstrumentsDetails Risk Management and Use of Derivative Financial Instruments - Information Regarding Derivative Instruments (Details) Details 54 false false R55.htm 2410404 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Recognized in OCI (Details) Sheet http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstrumentsDerivativeGainLossRecognizedInOciDetails Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Recognized in OCI (Details) Details 55 false false R56.htm 2410405 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Reclassified From OCI (Details) Sheet http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstrumentsDerivativeGainLossReclassifiedFromOciDetails Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Reclassified From OCI (Details) Details 56 false false R57.htm 2410406 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Recognized in Income (Details) Sheet http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstrumentsDerivativeGainLossRecognizedInIncomeDetails Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Recognized in Income (Details) Details 57 false false R58.htm 2410407 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Interest Rate Swap and Caps Summary (Details) Sheet http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstrumentsInterestRateSwapAndCapsSummaryDetails Risk Management and Use of Derivative Financial Instruments - Interest Rate Swap and Caps Summary (Details) Details 58 false false R59.htm 2410408 - Disclosure - Risk Management and Use of Derivative Financial Instruments - Foreign Currency Derivatives Details (Details) Sheet http://www.cpa18global.com/role/RiskManagementAndUseOfDerivativeFinancialInstrumentsForeignCurrencyDerivativesDetailsDetails Risk Management and Use of Derivative Financial Instruments - Foreign Currency Derivatives Details (Details) Details 59 false false R60.htm 2411402 - Disclosure - Non-Recourse Secured Debt, Net - Narratives (Details) Sheet http://www.cpa18global.com/role/NonRecourseSecuredDebtNetNarrativesDetails Non-Recourse Secured Debt, Net - Narratives (Details) Details 60 false false R61.htm 2411403 - Disclosure - Non-Recourse Secured Debt, Net - Schedule of Debt Principal Payments (Details) Sheet http://www.cpa18global.com/role/NonRecourseSecuredDebtNetScheduleOfDebtPrincipalPaymentsDetails Non-Recourse Secured Debt, Net - Schedule of Debt Principal Payments (Details) Details 61 false false R62.htm 2413402 - Disclosure - (Loss) Earnings Per Share and Equity - Narratives (Details) Sheet http://www.cpa18global.com/role/LossEarningsPerShareAndEquityNarrativesDetails (Loss) Earnings Per Share and Equity - Narratives (Details) Details 62 false false R63.htm 2413403 - Disclosure - (Loss) Earnings Per Share and Equity - Basic and Diluted Loss Per Share (Details) Sheet http://www.cpa18global.com/role/LossEarningsPerShareAndEquityBasicAndDilutedLossPerShareDetails (Loss) Earnings Per Share and Equity - Basic and Diluted Loss Per Share (Details) Details 63 false false R64.htm 2413404 - Disclosure - (Loss) Earnings Per Share and Equity - Reclassifications Out of Accumulated Other Comprehensive Loss (Details) Sheet http://www.cpa18global.com/role/LossEarningsPerShareAndEquityReclassificationsOutOfAccumulatedOtherComprehensiveLossDetails (Loss) Earnings Per Share and Equity - Reclassifications Out of Accumulated Other Comprehensive Loss (Details) Details 64 false false R65.htm 2414402 - Disclosure - Segment Reporting - Narratives (Details) Sheet http://www.cpa18global.com/role/SegmentReportingNarrativesDetails Segment Reporting - Narratives (Details) Details 65 false false R66.htm 2414403 - Disclosure - Segment Reporting - Income Statement (Details) Sheet http://www.cpa18global.com/role/SegmentReportingIncomeStatementDetails Segment Reporting - Income Statement (Details) Details 66 false false R67.htm 2414404 - Disclosure - Segment Reporting - Segment Assets (Details) Sheet http://www.cpa18global.com/role/SegmentReportingSegmentAssetsDetails Segment Reporting - Segment Assets (Details) Details 67 false false All Reports Book All Reports cpa18-20200331.xml cpa18-20200331.xsd cpa18-20200331_cal.xml cpa18-20200331_def.xml cpa18-20200331_lab.xml cpa18-20200331_pre.xml http://xbrl.sec.gov/currency/2019-01-31 http://fasb.org/srt/2019-01-31 http://fasb.org/us-gaap/2019-01-31 http://xbrl.sec.gov/dei/2018-01-31 true true XML 72 R64.htm IDEA: XBRL DOCUMENT v3.20.1
(Loss) Earnings Per Share and Equity - Reclassifications Out of Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Reconciliation Of Accumulated Comprehensive Income    
Beginning equity balance, value $ 851,671 $ 895,970
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Other gains and (losses) 2,072 (172)
Interest expense 10,489 12,357
Other Comprehensive Loss (25,905) (4,480)
Ending equity balance, value 791,933 890,552
Accumulated Other Comprehensive Loss    
Reconciliation Of Accumulated Comprehensive Income    
Beginning equity balance, value (56,535) (50,593)
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Ending equity balance, value (79,912) (54,915)
Gains and Losses on Derivative Instruments    
Reconciliation Of Accumulated Comprehensive Income    
Beginning equity balance, value 138 2,215
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Ending equity balance, value (1,685) 1,977
Foreign Currency Translation Adjustments    
Reconciliation Of Accumulated Comprehensive Income    
Beginning equity balance, value (56,673) (52,808)
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Ending equity balance, value (78,227) (56,892)
AOCI Including Portion Attributable to Noncontrolling Interest    
Reconciliation Of Accumulated Comprehensive Income    
Other comprehensive income (loss) before reclassifications (25,704) (4,099)
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Other Comprehensive Loss (25,905) (4,480)
AOCI Including Portion Attributable to Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income    
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Other gains and (losses) (397) (357)
Interest expense 196 (24)
Gains and (Losses) on Derivative Instruments    
Reconciliation Of Accumulated Comprehensive Income    
Other comprehensive income (loss) before reclassifications (1,622) 143
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Other Comprehensive Loss (1,823) (238)
Gains and (Losses) on Derivative Instruments | Reclassification out of Accumulated Other Comprehensive Income    
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Other gains and (losses) (397) (357)
Interest expense 196 (24)
Foreign Currency Translation Adjustments    
Reconciliation Of Accumulated Comprehensive Income    
Other comprehensive income (loss) before reclassifications (24,082) (4,242)
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Other Comprehensive Loss (24,082) (4,242)
Foreign Currency Translation Adjustments | Reclassification out of Accumulated Other Comprehensive Income    
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Other gains and (losses) 0 0
Interest expense 0 0
Noncontrolling Interest    
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Net current-period other comprehensive loss (income) attributable to noncontrolling interests 2,528 158
Gains and (Losses) on Derivative Instruments    
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Net current-period other comprehensive loss (income) attributable to noncontrolling interests 0 0
Foreign Currency Translation Adjustments    
Amounts reclassified from accumulated other comprehensive income (loss) to:    
Net current-period other comprehensive loss (income) attributable to noncontrolling interests $ 2,528 $ 158
XML 73 R47.htm IDEA: XBRL DOCUMENT v3.20.1
Finance Receivables - Net Investments in Direct Financing Leases (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Receivables [Abstract]    
Lease payments receivable $ 54,419 $ 55,278
Unguaranteed residual value 39,401 39,401
Gross investments in direct financing leases 93,820 94,679
Less: unearned income (51,714) (52,625)
Less: allowance for credit losses (11,768) 0
Net investment in direct financing leases $ 30,338 $ 42,054
XML 74 R43.htm IDEA: XBRL DOCUMENT v3.20.1
Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate - Property Plant and Equipment (Details) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Investments in real estate:    
Net investments in real estate $ 1,902,350 $ 1,946,720
Real Estate    
Investments in real estate:    
Land 185,556 196,693
Buildings and improvements 972,941 1,003,952
Less: Accumulated depreciation (138,269) (135,922)
Net investments in real estate 1,020,228 1,064,723
Operating Real Estate    
Investments in real estate:    
Land 77,704 78,240
Buildings and improvements 427,622 434,245
Less: Accumulated depreciation (60,743) (57,237)
Net investments in real estate $ 444,583 $ 455,248
XML 75 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 76 R3.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares
Mar. 31, 2020
Dec. 31, 2019
CPA®:18 – Global stockholders’ equity:    
Preferred stock, par value (usd per share) $ 0.001 $ 0.001
Preferred stock, shares authorized (shares) 50,000,000 50,000,000
Preferred stock, shares issued (shares) 0 0
Class A    
CPA®:18 – Global stockholders’ equity:    
Common stock, par value (usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (shares) 320,000,000 320,000,000
Common stock, shares outstanding (shares) 117,627,430 117,179,578
Class C    
CPA®:18 – Global stockholders’ equity:    
Common stock, par value (usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (shares) 80,000,000 80,000,000
Common stock, shares outstanding (shares) 32,263,611 32,238,513
XML 77 R22.htm IDEA: XBRL DOCUMENT v3.20.1
Subsequent Events
 3 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

The global spread of COVID-19 has created significant uncertainty and economic disruption, both in the near-term and potentially longer-term. The extent to which this pandemic could affect our financial condition, liquidity, and results of operations is difficult to predict and depends on evolving factors, including: duration, scope, government actions, and other social responses.

Our advisor is closely monitoring the impact of COVID-19 on all aspects of our business, including how it will impact our portfolio and tenant credit health (including our tenants’ ability to pay rent) as well as our liquidity, capital allocation, and balance sheet management. Our advisor continues to actively engage in discussions with our tenants and with the third-party managers of our operating properties regarding the impact of COVID-19 on business operations, liquidity, prospects, and financial position.

The extent to which the COVID-19 pandemic impacts our operations and those of our tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity, and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others.
XML 78 R26.htm IDEA: XBRL DOCUMENT v3.20.1
Real Estate, Operating Real Estate, Real Estate Under Construction, and Equity Investment in Real Estate (Tables)
 3 Months Ended
Mar. 31, 2020
Real Estate [Abstract]  
Schedule of Real Estate Properties
Operating real estate, which consists of our self-storage and student housing properties, is summarized as follows (in thousands):
 
March 31, 2020
 
December 31, 2019
Land
$
77,704

 
$
78,240

Buildings and improvements
427,622

 
434,245

Less: Accumulated depreciation
(60,743
)
 
(57,237
)
 
$
444,583

 
$
455,248



Real estate, which consists of land and buildings leased to others, which are subject to operating leases, is summarized as follows (in thousands):
 
March 31, 2020
 
December 31, 2019
Land
$
185,556

 
$
196,693

Buildings and improvements
972,941

 
1,003,952

Less: Accumulated depreciation
(138,269
)
 
(135,922
)
 
$
1,020,228

 
$
1,064,723
Operating Lease Income
Lease income related to operating leases recognized and included within Lease revenues — net-leased and Lease revenues — operating real estate in the condensed consolidated statements of operations are as follows (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Lease revenues — net-leased
 
 
 
Lease income — fixed (a)
$
17,622

 
$
25,387

Lease income — variable (b)
3,785

 
4,561

Total operating lease income (c)
$
21,407

 
$
29,948

 
 
 
 
Lease revenues — operating real estate
 
 
 
Lease income — fixed
$
17,302

 
$
16,641

Lease income — variable (d)
641

 
624

Total operating lease income
$
17,943

 
$
17,265

___________
(a)
Amount for the three months ended March 31, 2020 includes a $7.0 million write-off of straight-line rent receivables based on our current assessment of less than 75% likelihood of collecting all remaining contractual rent on certain net lease hotels (Note 2).
(b)
Includes (i) rent increases based on changes in the Consumer Price Index (“CPI”) and other comparable indices and (ii) reimbursements for property taxes, insurance, and common area maintenance services.
(c)
Excludes $1.0 million of interest income for both the three months ended March 31, 2020 and 2019, from direct financing leases that is included in Lease revenues — net-leased in the condensed consolidated statements of operations.
(d)
Primarily comprised of late fees and administrative fees revenues.
Real Estate Under Construction
The following table provides the activity of our Real estate under construction (in thousands):
 
Three Months Ended March 31, 2020
Beginning balance
$
235,751

Capitalized funds
38,569

Foreign currency translation adjustments
(5,217
)
Placed into service
(4,062
)
Capitalized interest
2,003

Ending balance
$
267,044
XML 79 R7.htm IDEA: XBRL DOCUMENT v3.20.1
Condensed Consolidated Statements of Equity (Unaudited) - USD ($)
$ in Thousands
Total
Cumulative Effect, Period of Adoption, Adjustments
Class A
Class C
Total CPA:18 – Global Stockholders
Total CPA:18 – Global Stockholders
Cumulative Effect, Period of Adoption, Adjustments
Common Stock
Class A
Common Stock
Class C
Additional Paid-In Capital
Distributions and Accumulated Losses
Distributions and Accumulated Losses
Cumulative Effect, Period of Adoption, Adjustments
Accumulated Other Comprehensive Loss
Noncontrolling Interests
Beginning equity balance, value at Dec. 31, 2018 $ 895,970       $ 828,977   $ 114 $ 32 $ 1,290,888 $ (411,464)   $ (50,593) $ 66,993
Beginning equity balance, value (ASU 2016-02) at Dec. 31, 2018   $ (1,108)       $ (1,108)         $ (1,108)    
Beginning equity balance, shares at Dec. 31, 2018             114,589,333 31,641,265          
Statements of Equity                          
Shares issued, value 11,019       11,019   $ 1 $ 0 11,018        
Shares issued, shares             965,197 297,063          
Shares issued to affiliate, value 1,922       1,922   $ 0   1,922        
Shares issued to affiliate, shares             220,238            
Contributions from noncontrolling interests 2,520                       2,520
Distributions to noncontrolling interests (8,943)                       (8,943)
Distributions declared (22,416)       (22,416)         (22,416)      
Net (Loss) Income 19,673       14,827         14,827     4,846
Other comprehensive (loss) income:                          
Foreign currency translation adjustments (4,242)       (4,084)             (4,084) (158)
Unrealized gain (loss) on derivative instruments (238)       (238)             (238)  
Repurchase of shares, value (3,605)       (3,605)       (3,605)        
Repurchase of shares, shares             (330,661) (98,187)          
Ending equity balance, value at Mar. 31, 2019 890,552       825,294   $ 115 $ 32 1,300,223 (420,161)   (54,915) 65,258
Ending equity balance, shares at Mar. 31, 2019             115,444,107 31,840,141          
Beginning equity balance, value at Dec. 31, 2019 851,671       792,872   $ 117 $ 32 1,319,584 (470,326)   (56,535) 58,799
Beginning equity balance, value (ASU 2016-13) at Dec. 31, 2019   $ (6,903)       $ (6,903)         $ (6,903)    
Beginning equity balance, shares at Dec. 31, 2019     117,179,578 32,238,513     117,179,578 32,238,513          
Statements of Equity                          
Shares issued, value 10,939       10,939   $ 1 $ 0 10,938        
Shares issued, shares             966,298 290,887          
Shares issued to affiliate, value 1,481       1,481   $ 0   1,481        
Shares issued to affiliate, shares             169,045            
Contributions from noncontrolling interests 595                       595
Distributions to noncontrolling interests (3,355)                       (3,355)
Distributions declared (22,844)       (22,844)         (22,844)      
Net (Loss) Income (5,569)       (8,180)         (8,180)     2,611
Other comprehensive (loss) income:                          
Foreign currency translation adjustments (24,082)       (21,557)             (21,557) (2,525)
Unrealized gain (loss) on derivative instruments (1,823)       (1,820)             (1,820) (3)
Repurchase of shares, value (8,177)       (8,177)   $ (1) $ 0 (8,176)        
Repurchase of shares, shares             (687,491) (265,789)          
Ending equity balance, value at Mar. 31, 2020 $ 791,933       $ 735,811   $ 117 $ 32 $ 1,323,827 $ (508,253)   $ (79,912) $ 56,122
Ending equity balance, shares at Mar. 31, 2020     117,627,430 32,263,611     117,627,430 32,263,611          
XML 80 R37.htm IDEA: XBRL DOCUMENT v3.20.1
Basis of Presentation - Foreign Currencies (Details)
 3 Months Ended
Mar. 31, 2020
Dec. 31, 2019
British Pound Sterling    
Real Estate Properties    
Foreign currency exchange rate 1.2360 1.3204
Increase (decrease) in foreign currency exchange rate (6.40%)  
Euro    
Real Estate Properties    
Foreign currency exchange rate 1.0956 1.1234
Increase (decrease) in foreign currency exchange rate (2.50%)  
Norwegian Krone    
Real Estate Properties    
Foreign currency exchange rate 0.0952 0.1139
Increase (decrease) in foreign currency exchange rate (16.40%)  
XML 81 R33.htm IDEA: XBRL DOCUMENT v3.20.1
Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated
(a)
The three months ended March 31, 2020 and 2019 includes straight-line rent amortization of $0.7 million and $0.9 million, respectively. The three months ended March 31, 2020 includes a $7.0 million write-off of straight-line rent receivables (Note 2). Straight-line lease revenue is only recognized when deemed probable of collection, and is included within Lease revenues — net-leased within our condensed consolidated financial statements.
(b)
The three months ended March 31, 2020 includes an allowance for credit loss of $4.9 million in connection with our adoption of ASU 2016-13 (Note 2).
(c)
Includes Equity in losses of equity method investment in real estate.
(d)
Included in the all other category are our notes receivable investments, one of which was repaid during the second quarter of 2019.
(e)
Included in unallocated corporate overhead are expenses and other gains and (losses) that are calculated and reported at the portfolio level and not evaluated as part of any segment’s operating performance. Such items include asset management fees, general and administrative expenses, and gains and losses on foreign currency transactions and derivative instruments. Asset management fees totaled $3.0 million and $2.9 million for the three months ended March 31, 2020 and 2019, respectively (Note 3).

The following tables present a summary of comparative results and assets for these business segments (in thousands):
 
Three Months Ended March 31,
 
2020
 
2019
Net Lease
 
 
 
Revenues (a)
$
24,067

 
$
30,992

Operating expenses (b)
(20,602
)
 
(17,311
)
Interest expense
(6,858
)
 
(8,736
)
Other gains and (losses)
(3,440
)
 
43

Gain on sale of real estate, net
—

 
897

Benefit from (provision for) income taxes
639

 
(360
)
Net income attributable to noncontrolling interests
(700
)
 
(209
)
Net (loss) income attributable to CPA:18 – Global
$
(6,894
)
 
$
5,316

Self Storage
 
 
 
Revenues
$
15,356

 
$
14,839

Operating expenses
(9,095
)
 
(8,745
)
Interest expense
(3,356
)
 
(3,426
)
Other gains and (losses) (c)
(54
)
 
(668
)
Provision for income taxes
(31
)
 
(33
)
Net income attributable to CPA:18 – Global
$
2,820

 
$
1,967

Other Operating Properties
 
 
 
Revenues
$
2,747

 
$
2,622

Operating expenses
(1,485
)
 
(1,634
)
Interest expense
(252
)
 
(120
)
Other gains and (losses)
15

 
(39
)
Gain on sale of real estate, net
—

 
14,514

Benefit from (provision for) income taxes
14

 
(23
)
Net loss (income) attributable to noncontrolling interests
5

 
(2,789
)
Net income attributable to CPA:18 – Global
$
1,044

 
$
12,531

All Other (d)
 
 
 
Revenues
$
710

 
$
1,833

Operating expenses
—

 
(1
)
Net income attributable to CPA:18 – Global
$
710

 
$
1,832

Corporate
 
 
 
Unallocated Corporate Overhead (e)
$
(3,944
)
 
$
(4,971
)
Net income attributable to noncontrolling interests — Available Cash Distributions
$
(1,916
)
 
$
(1,848
)
Total Company
 
 
 
Revenues
$
42,880

 
$
50,294

Operating expenses (b)
(36,228
)
 
(32,272
)
Interest expense
(10,489
)
 
(12,357
)
Other gains and (losses) (c)
(2,126
)
 
(476
)
Gain on sale of real estate, net
—

 
15,408

Benefit from (provision for) income taxes
394

 
(924
)
Net income attributable to noncontrolling interests
(2,611
)
 
(4,846
)
Net (loss) income attributable to CPA:18 – Global
$
(8,180
)
 
$
14,827
Reconciliation of Assets from Segment to Consolidated
 
Total Assets
 
March 31, 2020
 
December 31, 2019
Net Lease
$
1,463,826

 
$
1,517,659

Self Storage
365,907

 
369,883

Other Operating Properties
215,628

 
213,692

Corporate
76,018

 
105,407

All Other
28,165

 
28,162

Total Company
$
2,149,544

 
$
2,234,803
XML 82 R10.htm IDEA: XBRL DOCUMENT v3.20.1
Organization
 3 Months Ended
Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization
Organization

Organization

Corporate Property Associates 18 – Global Incorporated (“CPA:18 – Global”), is a publicly owned, non-traded REIT, that invests primarily in a diversified portfolio of income-producing commercial real estate properties leased to companies, both domestically and internationally. In addition, our portfolio includes self-storage and student housing investments. We were formed in 2012 and are managed by W. P. Carey Inc. (“WPC”) through one of its subsidiaries (collectively our “Advisor”). As a REIT, we are not subject to U.S. federal income taxes on income and gains that we distribute to our stockholders as long as we satisfy certain requirements, principally relating to the nature of our income and the level of our distributions, among other factors. We earn revenue primarily by leasing the properties we own to single corporate tenants, predominantly on a triple-net lease basis, which requires the tenant to pay substantially all of the costs associated with operating and maintaining the property. We derive self-storage revenue from rents received from customers who rent storage space primarily under month-to-month leases for personal or business use. We earn student housing revenue primarily from leases of one year or less with individual students. Revenue is subject to fluctuation due to the timing of new lease transactions, lease terminations, lease expirations, contractual rent adjustments, tenant defaults, sales of properties, and changes in foreign currency exchange rates.

Substantially all of our assets and liabilities are held by CPA:18 Limited Partnership (the “Operating Partnership”), and as of March 31, 2020 we owned 99.97% of general and limited partnership interests in the Operating Partnership. The remaining interest in the Operating Partnership is held by a subsidiary of WPC.

As of March 31, 2020, our net lease portfolio was comprised of full or partial ownership interests in 47 properties, substantially all of which were fully-occupied and triple-net leased to 65 tenants totaling 9.6 million square feet. The remainder of our portfolio was comprised of our full or partial ownership interests in 68 self-storage properties, 12 student housing development projects and two student housing operating properties, totaling approximately 5.5 million square feet.

We operate in three reportable business segments: Net Lease, Self Storage, and Other Operating Properties. Our Net Lease segment includes our investments in net-leased properties, whether they are accounted for as operating leases or direct financing leases. Our Self Storage segment is comprised of our investments in self-storage properties. Our Other Operating Properties segment is primarily comprised of our investments in student housing operating properties and multi-family residential properties (our last multi-family residential property was sold in January 2019). In addition, we have an All Other category that includes our notes receivable investments, one of which was repaid during the second quarter of 2019. Our reportable business segments and All Other category are the same as our reporting units (Note 12).

We raised aggregate gross proceeds in our initial public offering of approximately $1.2 billion through April 2, 2015, which is the date we closed our offering. We have fully invested the proceeds from our initial public offering. In addition, from inception through March 31, 2020, $192.3 million and $55.1 million of distributions to our shareholders were reinvested in our Class A and Class C common stock, respectively, through our Distribution Reinvestment Plan (“DRIP”).
XML 83 R14.htm IDEA: XBRL DOCUMENT v3.20.1
Finance Receivables
 3 Months Ended
Mar. 31, 2020
Receivables [Abstract]  
Finance Receivables
Finance Receivables

Assets representing rights to receive money on demand or at fixed or determinable dates are referred to as finance receivables. Our finance receivables portfolio consists of our notes receivable (which are included in Accounts receivable and other assets, net in the condensed consolidated financial statements) and our Net investments in direct financing leases (net of allowance for credit losses). Operating leases are not included in finance receivables.

Notes Receivable

As of March 31, 2020, our notes receivable consisted of a $28.0 million mezzanine tranche of 10-year commercial mortgage-backed securities on the Cipriani banquet halls in New York, New York with a maturity date of July 2024. The mezzanine tranche is subordinated to a $60.0 million senior loan on the properties. Interest-only payments at a rate of 10% per annum are due through its maturity date. As of both March 31, 2020 and December 31, 2019, the balance for this note receivable remained $28.0 million.

Interest income from our notes receivable was $0.7 million and $1.8 million for three months ended March 31, 2020 and 2019, respectively, and is included in Other operating and interest income in our condensed consolidated statements of operations.

Net Investments in Direct Financing Leases

Net investments in our direct financing lease investments is summarized as follows (in thousands):
 
March 31, 2020
 
December 31, 2019
Lease payments receivable
$
54,419

 
$
55,278

Unguaranteed residual value
39,401

 
39,401

 
93,820

 
94,679

Less: unearned income
(51,714
)
 
(52,625
)
Less: allowance for credit losses (a)
(11,768
)
 
—

 
$
30,338

 
$
42,054


___________
(a)
Upon our adoption of ASU 2016-13 on January 1, 2020, we applied changes in loss reserves through a cumulative-effect adjustment to retained earnings totaling $6.9 million (Note 2). In addition, during the three months ended March 31, 2020, due to changes in expected economic conditions, we recorded an allowance for credit losses of $4.9 million, which was included in Allowance for credit losses in our condensed consolidated statements of operations.

Interest income from direct financing leases was $1.0 million for both the three months ended March 31, 2020 and 2019, and is included in Lease revenues — net-leased in our condensed consolidated statements of operations.

Credit Quality of Finance Receivables

We generally invest in facilities that we believe are critical to a tenant’s business and therefore have a lower risk of tenant default. As of both March 31, 2020 and December 31, 2019, we had no significant finance receivable balances that were past due, but as noted above, we established an allowance for credit losses during the first quarter of 2020. Additionally, there were no modifications of finance receivables during the three months ended March 31, 2020.

We evaluate the credit quality of our finance receivables utilizing an internal five-point credit rating scale, with one representing the highest credit quality and five representing the lowest. A credit quality of one through three indicates a range of investment grade to stable. A credit quality of four through five indicates inclusion on the watch list to risk of default. The credit quality evaluation of our finance receivables is updated quarterly.

A summary of our finance receivables by internal credit quality rating is as follows (dollars in thousands):
 
 
Number of Tenants/Obligors at
 
Carrying Value at
Internal Credit Quality Indicator
 
March 31, 2020
 
December 31, 2019
 
March 31, 2020
 
December 31, 2019
1 – 3
 
4
 
4
 
$
44,964

 
$
45,457

4
 
1
 
1
 
13,374

 
24,597

5
 
—
 
—
 
—

 
—

 
 
0
 
 
 
$
58,338

 
$
70,054
XML 84 R18.htm IDEA: XBRL DOCUMENT v3.20.1
Non-Recourse Secured Debt, Net
 3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Non-recourse secured debt, net
Non-Recourse Secured Debt, Net

Non-recourse secured debt, net is collateralized by the assignment of real estate properties. As of March 31, 2020, the weighted-average interest rates for our fixed-rate and variable-rate non-recourse secured debt were 4.0% and 3.7%, respectively, with maturity dates ranging from 2020 to 2039.

Financing Activity During 2020

On March 13, 2020, we obtained a construction loan of $22.5 million (amount based on the exchange rate of the euro at the date of the loan) for a student housing development project in Barcelona, Spain. The loan is comprised of four tranches with a weighted average variable interest rate of 2.1% as of March 31, 2020. Interest only payments are due on outstanding draws through its scheduled maturity date of December 2023. A total of $16.8 million was drawn on the loan as of March 31, 2020.

Scheduled Debt Principal Payments
 
Scheduled debt principal payments during the remainder of 2020, each of the next four calendar years following December 31, 2020, and thereafter are as follows (in thousands):
Years Ending December 31,
 
Total
2020 (remainder)
 
$
59,686

2021
 
151,979

2022
 
189,208

2023
 
203,916

2024
 
198,335

Thereafter through 2039
 
385,187

Total principal payments
 
1,188,311

Unamortized deferred financing costs
 
(6,244
)
Unamortized premium, net
 
1,315

Total
 
$
1,183,382



Certain amounts in the table above are based on the applicable foreign currency exchange rate at March 31, 2020.

The carrying value of our Non-recourse secured debt, net decreased by $35.7 million in the aggregate from December 31, 2019 to March 31, 2020, reflecting the impact of exchange rate fluctuations during the same period (Note 2).

Covenants

Our non-recourse mortgage loan agreements include customary financial maintenance covenants that require us to maintain certain ratios and benchmarks at the end of each quarter. We were in compliance with all of these covenants at March 31, 2020.
XML 85 R52.htm IDEA: XBRL DOCUMENT v3.20.1
Fair Value Measurements - Carrying Value and Fair Value Measurements (Details) - Level 3 - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Carrying Value    
Liabilities    
Non-recourse secured debt, net $ 1,183,382 $ 1,201,913
Assets    
Notes receivable 28,000 28,000
Fair Value    
Liabilities    
Non-recourse secured debt, net 1,196,712 1,239,004
Assets    
Notes receivable $ 30,300 $ 30,300
XML 86 R56.htm IDEA: XBRL DOCUMENT v3.20.1
Risk Management and Use of Derivative Financial Instruments - Derivative Gain (Loss) Reclassified From OCI (Details) - Derivatives in Cash Flow Hedging Relationships - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income    
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income $ 201 $ 381
Foreign currency forward contracts | Other gains and (losses)    
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income    
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income 278 346
Interest rate swap(s) | Interest expense    
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income    
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income (179) 27
Foreign currency collars | Other gains and (losses)    
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income    
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income 119 11
Interest rate caps | Interest expense    
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income    
Amount of Gain on Derivatives Reclassified from Other Comprehensive Loss into Income $ (17) $ (3)

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