Real Estate Portfolio	3 Months Ended
Mar. 31, 2020
Real Estate Portfolio
Real Estate Portfolio	Note 4 – Real Estate Investments Real Estate Portfolio As of March 31, 2020, the Company owned 868 operating properties located in 46 states, with a total gross leasable area (“GLA”) of approximately 16.3 million square feet. Net Real Estate Investments totaled $2.4 billion as of March 31, 2020. As of December 31, 2019, the Company owned 821 operating properties located in 46 states, with a total GLA of approximately 14.6 million square feet. Net Real Estate Investments totaled $2.2 billion as of December 31, 2019. Acquisitions During the three months ended March 31, 2020, the Company purchased 51 retail net lease assets for approximately $227.0 million, which includes acquisition and closing costs. These properties are located in 24 states and are leased for a weighted average lease term of approximately 11.0 years. The aggregate acquisitions for the three months ended March 31, 2020 were allocated $63.0 million to land, $144.7 million to buildings and improvements, and $19.3 million to lease intangibles. The acquisitions were all cash purchases and there was no material contingent consideration associated with these acquisitions. None of the Company’s acquisitions during the first three months of 2020 caused any new or existing tenant to comprise 10% or more of its total assets or generate 10% or more of its total annualized contractual base rent at March 31, 2020. Developments During the three months ended March 31, 2020, the Company completed three developments or Partner Capital Solutions projects. At March 31, 2020 the Company had one such project under construction. Dispositions During the three months ended March 31, 2020, the Company sold six properties for net proceeds of $24.4 million and the Company recorded a net gain of $1.6 million. Provision for Impairment As a result of our review of Real Estate Investments, the Company recognized no provisions for impairment for the three months ended March 31, 2020 and $0.4 million for the three months ended March 31, 2019, respectively. The estimated fair value of the impaired real estate assets at their time of impairment during the three months ended March 31, 2019 was $0.6 million.

Real Estate Portfolio

3 Months Ended

Mar. 31, 2020

Note 4 – Real Estate Investments

Real Estate Portfolio

As of March 31, 2020, the Company owned 868 operating properties located in 46 states, with a total gross leasable area (“GLA”) of approximately 16.3 million square feet. Net Real Estate Investments totaled $2.4 billion as of March 31, 2020. As of December 31, 2019, the Company owned 821 operating properties located in 46 states, with a total GLA of approximately 14.6 million square feet. Net Real Estate Investments totaled $2.2 billion as of December 31, 2019.

Acquisitions

During the three months ended March 31, 2020, the Company purchased 51 retail net lease assets for approximately $227.0 million, which includes acquisition and closing costs. These properties are located in 24 states and are leased for a weighted average lease term of approximately 11.0 years.

The aggregate acquisitions for the three months ended March 31, 2020 were allocated $63.0 million to land, $144.7 million to buildings and improvements, and $19.3 million to lease intangibles. The acquisitions were all cash purchases and there was no material contingent consideration associated with these acquisitions. None of the Company’s acquisitions during the first three months of 2020 caused any new or existing tenant to comprise 10% or more of its total assets or generate 10% or more of its total annualized contractual base rent at March 31, 2020.

Developments

During the three months ended March 31, 2020, the Company completed three developments or Partner Capital Solutions projects. At March 31, 2020 the Company had one such project under construction.

Dispositions

During the three months ended March 31, 2020, the Company sold six properties for net proceeds of $24.4 million and the Company recorded a net gain of $1.6 million.

Provision for Impairment

As a result of our review of Real Estate Investments, the Company recognized no provisions for impairment for the three months ended March 31, 2020 and $0.4 million for the three months ended March 31, 2019, respectively. The estimated fair value of the impaired real estate assets at their time of impairment during the three months ended March 31, 2019 was $0.6 million.