Subsequent Events

6 Months Ended

Jun. 30, 2020

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

The Company has evaluated all events and transactions that occurred after June 30, 2020 through the filing of this Quarterly Report on Form 10-Q and determined that there have been no events that have occurred that would require adjustment to disclosures in the consolidated financial statements except as disclosed below.

Acquisition and Disposition Activity

Subsequent to June 30, 2020, the Company invested in 6 real estate properties for an aggregate purchase price (including acquisition-related costs) of $23.3 million and invested $2.9 million through new and ongoing construction in progress and reimbursements to tenants for development, construction and renovation costs.

Subsequent to June 30, 2020, the Company sold its investment in 3 real estate properties for an aggregate gross sales price of $2.9 million and incurred $0.1 million of disposition costs related to these transactions.

Appointment of Executive Officer

In July 2020, the Company announced the appointment of Mark E. Patten as an Executive Vice President of the Company and its Chief Financial Officer and Treasurer, effective as of August 10, 2020. In association with his appointment, the Company entered into an employment agreement Mr. Patten with similar terms and conditions as employment agreements the Company has with other executive officers. See Note 11—Commitments and Contingencies for additional information. In recognition of his appointment, Mr. Patten will receive a one-time grant of $1,050,000 of restricted stock units which will vest in equal installments on each of the first, second and third anniversaries of the effective date of his appointment.