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Real Estate (Tables)
 12 Months Ended
Dec. 31, 2019
Real Estate [Abstract]  
Schedule of Acquisition Purchase Price and Allocation
The purchase price and other acquisition items for the property acquired during the year ended December 31, 2019 are shown below:
Property
 
Location
 
Tenant/Major Lessee
 
Acquisition Date
 
Purchase Price
 
Approx. Square Feet
 
Acquisition Fees and Expenses (1)
 
Year of Lease Expiration
McKesson II
 
Scottsdale, AZ
 
McKesson Corporation
 
9/20/2019
 
$
37,674

 
124,900
 
$
1,059

 
2029
(1)
The former advisor received acquisition fees equal to 2.5%. In addition, the Company incurred third-party costs associated with the acquisition.
Schedule of Consideration Transferred
Consideration transferred is calculated as such (in thousands except share and per share data):
 
As of April 30, 2019
GCEAR's common shares outstanding
78,054,934

Exchange ratio
1.04807

Implied EA-1 common stock issued in consideration
74,474,924

 
 
GCEAR's operating partnership units outstanding
527,045

Exchange ratio
1.04807

Implied EA-1 operating partnership units issued in consideration
502,872

EA-1's net asset value per share
$
10.02

Total consideration
$
751,278
Schedule Of Asset Acquisition
The following table summarizes the final purchase price allocation based on a valuation report prepared by the Company's third-party valuation specialist that was subject to management's review and approval:
 
As of April 30, 2019
Assets:
 
Cash assumed
$
35,659

Land
135,875

Building and improvements
913,739

Tenant origination and absorption cost
214,428

Intangibles
3,627

Construction in progress
263

Other assets
5,964

  Total assets
1,309,555

Liabilities:
 
Debt (net of $1.1 million premium)
498,906

Below market leases
12,476

Due to Affiliates
8,804

Distribution payable
1,854

Restricted reserves
11,050

Accounts payable and other liabilities
14,849

  Total liabilities
547,939

Fair value of net assets acquired
761,616

  Less: EA-1's Merger expenses
10,338

Fair value of net assets acquired, less EA-1's Merger expenses
$
751,278

The following summarizes the purchase price allocations of the properties acquired during the year ended December 31, 2019:
Acquisition
 
Land
 
Building
 
Improvements
 
Tenant origination and absorption costs
 
In-place lease valuation - above market
 
In-place lease valuation - (below) market
 
 Land Leasehold Value (Above Market)
 
Total (1)
 
2019 Revenue (2)
Mergers
 
$
135,875

 
$
850,811

 
$
62,928

 
$
214,428

 
$
3,627

 
$
(12,476
)
 
$
—

 
$
1,255,193

 
$
66,004

McKesson II (3)
 
$
—

 
$
25,446

 
$
4,681

 
$
11,513

 
$
239

 
$
—

 
$
(3,072
)
 
$
38,807

 
$
958


(1)
The allocations noted above are based on a determination of the relative fair value of the total consideration provided and represent the amount paid including capitalized acquisition costs.
(2)
The operating results of the properties acquired have been included in the Company's consolidated statement of operations since the acquisition date.
(3)
The Company recorded a ROU asset of $16.3 million and a corresponding liability to the Company's existing ground lease agreements as part of the acquisition (see Note 14, Operating Leases, for details).
Schedule of Merger Related Costs Incurred
The following is a breakdown of the Company's costs incurred during the the year ended December 31, 2019 related to the Mergers:
 
Amount
Advisory and valuation fees
$
8,592

Legal, accounting and tax fees
1,384

Other fees
362

Total Merger-related fees
$
10,338
Schedule of Company's Intangibles
The following summarizes a list of the Company's intangibles as of December 31, 2019 and 2018:
 
December 31,
 
2019
 
2018
In-place lease valuation (above market)
$
44,012

 
$
42,736

In-place lease valuation (above market) - accumulated amortization
(33,322
)
 
(31,995
)
In-place lease valuation (above market), net
10,690

 
10,741

 
 
 
 
Ground leasehold interest (below market)
2,254

 
2,255

Ground leasehold interest (below market) - accumulated amortization
(164
)
 
(137
)
Ground leasehold interest (below market), net
2,090

 
2,118

Intangibles - other
—

 
4,240

Intangible assets, net
$
12,780

 
$
17,099

 
 
 
 
In-place lease valuation (below market)
$
(67,622
)
 
$
(55,147
)
Land Leasehold interest (above market)
(3,073
)
 
—

In-place lease valuation (below market) - accumulated amortization
38,890

 
32,032

Intangible liabilities, net
$
(31,805
)
 
$
(23,115
)
 
 
 
 
Tenant origination and absorption cost
$
744,773

 
$
530,181

Tenant origination and absorption cost - accumulated amortization
(354,379
)
 
(296,201
)
Tenant origination and absorption cost, net
$
390,394

 
$
233,980

The following table sets forth the estimated annual amortization (income) expense for in-place lease valuation, net, tenant origination and absorption costs, ground leasehold improvements, and other leasing costs as of December 31, 2019 for the next five years:
Year
 
In-place lease valuation, net
 
Tenant origination and absorption costs
 
Ground leasehold improvements
 
Other leasing costs
2020
 
$
(2,150
)
 
$
64,739

 
$
(291
)
 
$
4,911

2021
 
$
(2,066
)
 
$
57,151

 
$
(290
)
 
$
5,668

2022
 
$
(2,467
)
 
$
54,050

 
$
(290
)
 
$
5,673

2023
 
$
(2,415
)
 
$
49,246

 
$
(290
)
 
$
5,571

2024
 
$
(1,593
)
 
$
41,479

 
$
(291
)
 
$
5,533
Schedule of Estimated Annual Amortization (Income) Expense
The amortization of the intangible assets and other leasing costs for the respective periods is as follows:
 
Amortization (income) expense for the year ended December 31,
 
2019
 
2018
 
2017
Above and below market leases, net
$
(3,201
)
 
$
(685
)
 
$
1,689

Tenant origination and absorption cost
$
69,502

 
$
55,464

 
$
59,046

Ground leasehold amortization (below market)
$
(52
)
 
$
27

 
$
27

Other leasing costs amortization
$
3,581

 
$
3,557

 
$
1,527