INCOME PROPERTY PORTFOLIO (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of components of leasing revenue


	Three Months Ended				Six Months Ended
	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
	The Company ($000's)		Predecessor ($000's)		The Company ($000's)		Predecessor ($000's)
Leasing Revenue
Lease Payments	$	4,229	$	2,888	$	8,041	$	5,656
Variable Lease Payments		361		200		721		391
Total Leasing Revenue	$	4,590	$	3,088	$	8,762	$	6,047

Schedule of minimum future base rental revenue on non-cancelable leases

Minimum Future Rental Receipts. Minimum future rental receipts under non-cancelable operating leases, excluding percentage rent and other lease payments that are not fixed and determinable, having remaining terms in excess of one year subsequent to June 30, 2020, are summarized as follows:


Year Ending December 31,	Amounts ($000's)
Remainder of 2020	$	8,967
2021		18,380
2022		18,134
2023		18,287
2024		17,804
2025 and thereafter (cumulative)		75,488
Total	$	157,060

Schedule of properties acquired

The single-tenant net lease income properties acquired during the six months ended June 30, 2020 are described below:


Tenant Description	Property Location	Date of Acquisition	Property Square-Feet	Purchase Price		Remaining Lease Term at Acquisition Date (in years)
7-Eleven	Austin, TX	1/13/2020	6,400	$	5,762,416	15.0
7-Eleven (1)	Georgetown, TX	1/13/2020	7,726		4,300,474	15.0
Conn's HomePlus	Hurst, TX	1/10/2020	37,957		6,100,000	11.6
Lehigh Gas Wholesale Services, Inc.	Highland Heights, KY	2/03/2020	2,578		4,250,000	10.8
American Multi-Cinema, Inc.	Tyngsborough, MA	2/19/2020	39,474		7,055,000	10.1
Hobby Lobby	Tulsa, OK	2/28/2020	84,180		12,486,334	10.8
Long John Silver's	Tulsa, OK	2/28/2020	3,000		263,666	N/A
Old Time Pottery	Orange Park, FL	2/28/2020	84,180		6,311,702	10.4
Freddy's Frozen Custard	Orange Park, FL	2/28/2020	3,200		303,298	6.8
Hobby Lobby	Arden, NC	6/24/2020	55,000		7,986,753	11.2
Walmart	Howell, MI	6/30/2020	214,172		20,590,000	6.6
	Total / Weighted Average		537,867	$	75,409,643	10.2

⁽¹⁾

Cash rent has not yet commenced on this lease, although control of the property has been transferred to the tenant. Cash rent on this property is expected to commence following the completion of certain tenant improvements.

The single-tenant net lease income properties acquired during the six months ended June 30, 2019 are described below:


Tenant Description	Property Location	Date of Acquisition	Property Square-Feet	Purchase Price		Remaining Lease Term at Acquisition Date (in years)
Hobby Lobby	Winston-Salem, NC	5/16/2019	55,000	$	8,075,000	10.9
Walgreens	Birmingham, AL	6/05/2019	14,516		5,500,000	9.8
Family Dollar	Lynn, MA	6/07/2019	9,228		2,100,000	4.8
Walgreens	Albany, GA	6/21/2019	14,770		3,634,000	13.6
	Total / Weighted Average		93,514	$	19,309,000	10.4