Real Estate Portfolio	6 Months Ended
Jun. 30, 2020
Real Estate Portfolio
Real Estate Portfolio	Note 4 – Real Estate Investments Real Estate Portfolio As of June 30, 2020, the Company owned 936 operating properties located in 46 states, with a total gross leasable area (“GLA”) of approximately 18.4 million square feet. Net Real Estate Investments totaled $2.6 billion as of June 30, 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 June 30, 2020, the Company purchased 75 retail net lease assets for approximately $272.5 million, which includes acquisition and closing costs. These properties are located in 26 states and are leased for a weighted average lease term of approximately 10.9 years. During the six months ended June 30, 2020, the Company purchased 126 retail net lease assets for approximately $499.5 million, which includes acquisition and closing costs. These properties are located in 33 states and are leased for a weighted average lease term of approximately 11.0 years. The aggregate acquisitions for the six months ended June 30, 2020 were allocated $123.5 million to land, $338.8 million to buildings and improvements, and $37.2 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 six 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 June 30, 2020. Developments During the three months ended June 30, 2020, the Company completed one development or Partner Capital Solutions project. During the six months ended June 30, 2020, the Company completed four developments or Partner Capital Solutions projects. At June 30, 2020, the Company had two development or Partner Capital Solutions projects under construction. Dispositions During the three months ended June 30, 2020, the Company sold eight properties for net proceeds of $18.2 million and the Company recorded a net gain of $5.0 million. During the six months ended June 30, 2020, the Company sold 14 properties for net proceeds of $42.6 million and the Company recorded a net gain of $6.6 million. Provision for Impairment As a result of our review of Real Estate Investments, the Company recognized provisions for impairments of $1.1 million and $1.2 million for the three months ended June 30, 2020 and 2019, respectively and $1.1 million and $1.6 million for the six months ended June 30, 2020 and 2019, respectively. The estimated fair value of the impaired real estate assets at their time of impairment during the six months ended June 30, 2020 was $7.4 million.

Real Estate Portfolio

6 Months Ended

Jun. 30, 2020

Note 4 – Real Estate Investments

Real Estate Portfolio

As of June 30, 2020, the Company owned 936 operating properties located in 46 states, with a total gross leasable area (“GLA”) of approximately 18.4 million square feet. Net Real Estate Investments totaled $2.6 billion as of June 30, 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 June 30, 2020, the Company purchased 75 retail net lease assets for approximately $272.5 million, which includes acquisition and closing costs. These properties are located in 26 states and are leased for a weighted average lease term of approximately 10.9 years.

During the six months ended June 30, 2020, the Company purchased 126 retail net lease assets for approximately $499.5 million, which includes acquisition and closing costs. These properties are located in 33 states and are leased for a weighted average lease term of approximately 11.0 years.

The aggregate acquisitions for the six months ended June 30, 2020 were allocated $123.5 million to land, $338.8 million to buildings and improvements, and $37.2 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 six 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 June 30, 2020.

Developments

During the three months ended June 30, 2020, the Company completed one development or Partner Capital Solutions project.

During the six months ended June 30, 2020, the Company completed four developments or Partner Capital Solutions projects. At June 30, 2020, the Company had two development or Partner Capital Solutions projects under construction.

Dispositions

During the three months ended June 30, 2020, the Company sold eight properties for net proceeds of $18.2 million and the Company recorded a net gain of $5.0 million.

During the six months ended June 30, 2020, the Company sold 14 properties for net proceeds of $42.6 million and the Company recorded a net gain of $6.6 million.

Provision for Impairment

As a result of our review of Real Estate Investments, the Company recognized provisions for impairments of $1.1 million and $1.2 million for the three months ended June 30, 2020 and 2019, respectively and $1.1 million and $1.6 million for the six months ended June 30, 2020 and 2019, respectively. The estimated fair value of the impaired real estate assets at their time of impairment during the six months ended June 30, 2020 was $7.4 million.