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Real Estate Acquisitions (Tables)

12 Months Ended

Dec. 31, 2019

Real Estate [Abstract]

Schedule total purchase price including transaction costs

Quarter Ended				Number of Properties				Land				Building and Improvements				Tenant Improvements				In-place lease intangibles				Above- market leases				Below- market leases				Total ⁽¹⁾
2019
March 31, 2019⁽²⁾					1			$	179,202			$	456,550			$	18,166			$	69,504			$	-			$	(78,302	)		$	645,120
June 30, 2019 ⁽³⁾					81				6,789,589				18,774,918				259,640				2,227,870				6,338				(754,300	)			27,304,055
September 30, 2019					18				2,619,719				8,306,781				190,343				982,974				-				(1,024,644	)			11,075,173
December 31, 2019⁽⁴⁾					177				8,320,008				35,658,446				447,929				3,383,050				14,680				(1,447,020	)			46,377,093
	Total				277			$	17,908,518			$	63,196,695			$	916,078			$	6,663,398			$	21,018			$	(3,304,266	)		$	85,401,441

Year Ended				Number of Properties				Land				Building and Improvements				Tenant Improvements				In-place lease intangibles				Above- market leases				Below- market leases				Total ⁽¹⁾
2018
	December 31, 2018⁽⁵⁾				10			$	1,615,182			$	1,201,090			$	69,497			$	340,366			$	19,603			$	(460,158	)		$	2,785,580

Explanatory Notes:

(1)

Includes acquisition costs of $10,120 for the three months ended March 31, 2019, $0.4 million for the three months ended June 30, 2019, $0.1 million for the three months ended September 30, 2019 and $0.8 million for the three months ended December 31, 2019. For the year ended December 31, 2018, includes acquisition costs of $0.02 million.

(2)

The property was acquired by the Predecessor.

(3)

The Company acquired the Acquisition Properties in connection with the IPO.

(4)

Includes the acquisition of a 113-building portfolio leased to the USPS. The contract purchase price for the portfolio was $31.4 million, excluding closing costs, and included 824,350 OP Units to be issued to the sellers at a value of $17.00 per unit. The closing price of the Company's common stock on November 22, 2019 was $16.05; therefore, total consideration at closing, excluding closing costs was approximately $30.6 million of which $13.2 million represented the non-cash consideration (the value of the OP Units) issued to the sellers.

(5)

The properties were acquired by the Predecessor during the year ended December 31, 2018.