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Subsequent Events
3 Months Ended
Mar. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events

12. Subsequent Events

For its consolidated financial statements as of March 31, 2020, the Company evaluated subsequent events and noted the following significant events.     

On April 3, 2020, the Company acquired a 79,212 square foot Department of Veteran Affairs outpatient facility in Mobile, Alabama. The building is a build-to-suit clinic completed in 2018. The facility is 100% leased to the GSA pursuant to a 15-year non-cancelable lease which expires in December 2033.

Subsequent to March 31, 2020, the Company entered into forward sales transactions under the March 2019 ATM Program and the December 2019 ATM Program for the sale of an additional 3,287,624 shares of its common stock that have not yet been settled. Subject to its right to elect net share settlement, the Company expects to physically settle the forward sales transactions no later than April 2021. Assuming the forward sales transactions are physically settled in full utilizing a net weighted average initial forward sales price of $26.78 per share, the Company expects to receive net proceeds of approximately $88.0 million, after deducting offering costs, subject to adjustments in accordance with the applicable forward sale transaction.

On April 30, 2020, the Company acquired a 51,647 square foot Department of Veteran Affairs outpatient facility in Chico, California. The building was originally constructed in 2019. The facility is 100% leased to the GSA pursuant to a 15-year non-cancelable lease which expires in June 2034.