$NNN
NNN REIT, INC.

2023 Q2 Form 10-Q Financial Statement

#000095017023016445 Filed on May 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $202.6M $204.1M
YoY Change 6.21% 7.27%
Cost Of Revenue $6.836M $6.846M
YoY Change 10.74% -4.89%
Gross Profit $195.8M $197.3M
YoY Change 6.06% 7.75%
Gross Profit Margin 96.63% 96.65%
Selling, General & Admin $10.74M $12.25M
YoY Change 10.27% 10.95%
% of Gross Profit 5.49% 6.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $59.87M $59.15M
YoY Change 4.23% 12.28%
% of Gross Profit 30.58% 29.98%
Operating Expenses $70.62M $81.38M
YoY Change -12.5% 6.75%
Operating Profit $125.2M $129.0M
YoY Change 12.93% 9.31%
Interest Expense -$40.02M $38.89M
YoY Change -208.93% 5.97%
% of Operating Profit -31.97% 30.14%
Other Income/Expense, Net -$52.00K -$38.86M
YoY Change -100.14% -205.98%
Pretax Income $98.70M $90.17M
YoY Change 33.09% 10.81%
Income Tax
% Of Pretax Income
Net Earnings $98.54M $90.17M
YoY Change 32.86% 10.81%
Net Earnings / Revenue 48.63% 44.18%
Basic Earnings Per Share $0.54 $0.50
Diluted Earnings Per Share $0.54 $0.50
COMMON SHARES
Basic Shares Outstanding 182.1M 181.5M
Diluted Shares Outstanding 181.6M 181.4M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.281M $3.240M
YoY Change -30.65% -93.97%
Cash & Equivalents $2.281M $3.240M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $2.246M $2.568M
Other Receivables $0.00 $0.00
Total Short-Term Assets $4.527M $5.808M
YoY Change -51.64% -89.83%
LONG-TERM ASSETS
Property, Plant & Equipment $8.221B $8.112B
YoY Change 7.12% 6.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.304M $6.916M
YoY Change 13.65% -0.07%
Total Long-Term Assets $8.341B $8.232B
YoY Change 7.01% 6.71%
TOTAL ASSETS
Total Short-Term Assets $4.527M $5.808M
Total Long-Term Assets $8.341B $8.232B
Total Assets $8.346B $8.238B
YoY Change 6.94% 6.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $24.78M $58.22M
YoY Change 6.91% 0.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $24.78M $58.22M
YoY Change 6.91% 0.34%
LONG-TERM LIABILITIES
Long-Term Debt $4.075B $3.960B
YoY Change 7.56% 5.67%
Other Long-Term Liabilities $96.41M $85.31M
YoY Change 24.55% 24.08%
Total Long-Term Liabilities $4.171B $4.045B
YoY Change 7.9% 6.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.78M $58.22M
Total Long-Term Liabilities $4.171B $4.045B
Total Liabilities $4.196B $4.103B
YoY Change 7.89% 5.92%
SHAREHOLDERS EQUITY
Retained Earnings -$804.0M -$803.0M
YoY Change 3.36% 5.76%
Common Stock $1.825M $1.822M
YoY Change 3.28% 3.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.150B $4.135B
YoY Change
Total Liabilities & Shareholders Equity $8.346B $8.238B
YoY Change 6.94% 6.0%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $98.54M $90.17M
YoY Change 32.86% 10.81%
Depreciation, Depletion And Amortization $59.87M $59.15M
YoY Change 4.23% 12.28%
Cash From Operating Activities $118.5M $180.8M
YoY Change 6.76% 10.03%
INVESTING ACTIVITIES
Capital Expenditures $174.0M $153.7M
YoY Change -217.59% -173.38%
Acquisitions
YoY Change
Other Investing Activities $28.25M $867.0K
YoY Change 246.03% 50.26%
Cash From Investing Activities -$145.8M -$142.3M
YoY Change 4.26% -24.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 27.22M -39.93M
YoY Change -225.96% -56.73%
NET CHANGE
Cash From Operating Activities 118.5M 180.8M
Cash From Investing Activities -145.8M -142.3M
Cash From Financing Activities 27.22M -39.93M
Net Change In Cash -74.00K -1.452M
YoY Change -99.85% -98.77%
FREE CASH FLOW
Cash From Operating Activities $118.5M $180.8M
Capital Expenditures $174.0M $153.7M
Free Cash Flow -$55.54M $27.10M
YoY Change -121.45% -92.75%

Facts In Submission

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CY2023Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
22000
CY2022Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
21000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
180822000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
164338000
CY2023Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
12136000
CY2022Q1 us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
20315000
CY2023Q1 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
153726000
CY2022Q1 us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
209483000
CY2023Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
111000
CY2022Q1 us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
102000
CY2023Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
867000
CY2022Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
577000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-142346000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-189643000
CY2023Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
218000000
CY2022Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
0
CY2023Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
175200000
CY2022Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0
CY2023Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
173000
CY2022Q1 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
165000
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
50000
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
48000
CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
17190000
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
748000
CY2023Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
294000
CY2022Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
65000
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
99401000
CY2022Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
92751000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-39928000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-92281000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1452000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-117586000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6778000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
171322000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5326000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
53736000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
2687000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
550000
CY2023Q1 nnn Supplemental Change In Other Comprehensive Income
SupplementalChangeInOtherComprehensiveIncome
607000
CY2022Q1 nnn Supplemental Change In Other Comprehensive Income
SupplementalChangeInOtherComprehensiveIncome
583000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6401000
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
13974000
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
8914000
CY2023Q1 nnn Investment Properties Total
InvestmentPropertiesTotal
3449
CY2023Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
35251000
CY2023Q1 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
49
CY2023Q1 nnn Weighted Average Remaining Lease Term
WeightedAverageRemainingLeaseTerm
P10Y3M18D
CY2023Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
405000
CY2022Q1 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
98000
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
232000
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
0
CY2023Q1 nnn Lease Income Recognized On Cash Basis Number Of Tenants
LeaseIncomeRecognizedOnCashBasisNumberOfTenants
10
CY2022Q1 nnn Lease Income Recognized On Cash Basis Number Of Tenants
LeaseIncomeRecognizedOnCashBasisNumberOfTenants
9
CY2023Q1 nnn Lease Income Recognized On Cash Basis Percentage Of Total Properties
LeaseIncomeRecognizedOnCashBasisPercentageOfTotalProperties
0.050
CY2022Q1 nnn Lease Income Recognized On Cash Basis Percentage Of Total Properties
LeaseIncomeRecognizedOnCashBasisPercentageOfTotalProperties
0.054
CY2023Q1 nnn Lease Income Recognized On Cash Basis Percentage Of Total Annual Base Rent
LeaseIncomeRecognizedOnCashBasisPercentageOfTotalAnnualBaseRent
0.071
CY2022Q1 nnn Lease Income Recognized On Cash Basis Percentage Of Total Annual Base Rent
LeaseIncomeRecognizedOnCashBasisPercentageOfTotalAnnualBaseRent
0.073
CY2023Q1 nnn Lease Income Recognized On Cash Basis Percentage Of Aggregate Gross Leasable Area
LeaseIncomeRecognizedOnCashBasisPercentageOfAggregateGrossLeasableArea
0.067
CY2022Q1 nnn Lease Income Recognized On Cash Basis Percentage Of Aggregate Gross Leasable Area
LeaseIncomeRecognizedOnCashBasisPercentageOfAggregateGrossLeasableArea
0.070
CY2023Q1 nnn Lease Income Recognized On Cash Basis
LeaseIncomeRecognizedOnCashBasis
15565000
CY2022Q1 nnn Lease Income Recognized On Cash Basis
LeaseIncomeRecognizedOnCashBasis
15786000
CY2023Q1 us-gaap Increase Decrease In Operating Capital
IncreaseDecreaseInOperatingCapital
6401000
CY2023Q1 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
3410000
CY2022Q4 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
786000
CY2023Q1 us-gaap Escrow Deposit
EscrowDeposit
2086000
CY2022Q4 us-gaap Escrow Deposit
EscrowDeposit
4273000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
90167000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
81372000
CY2023Q1 nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
132000
CY2022Q1 nnn Earnings Attributable To Unvested Restricted Shares Using Two Class Method
EarningsAttributableToUnvestedRestrictedSharesUsingTwoClassMethod
156000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
90035000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
81216000
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
181720238
CY2022Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
175635634
CY2023Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
240699
CY2022Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
294665
CY2023Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
634036
CY2022Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
568726
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
180845503
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
174772243
CY2023Q1 nnn Incremental Common Shares Attributable To Dilutive Effect Other
IncrementalCommonSharesAttributableToDilutiveEffectOther
588842
CY2022Q1 nnn Incremental Common Shares Attributable To Dilutive Effect Other
IncrementalCommonSharesAttributableToDilutiveEffectOther
138970
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
181434345
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
174911213
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;text-decoration:underline;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> – Additional critical accounting policies of NNN include management’s estimates and assumptions relating to the reporting of assets and liabilities, revenues and expenses and the disclosure of contingent assets and liabilities are required to prepare the condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America. Significant accounting policies include management’s estimates of the purchase accounting for acquisition of real estate, the recoverability of the carrying value of long-lived assets and management's evaluation of the probability of outstanding and future lease payment collections. Actual results could differ from those estimates.</span></p>
CY2023Q1 nnn Weighted Average Remaining Lease Term
WeightedAverageRemainingLeaseTerm
P10Y3M18D
CY2023Q1 us-gaap Land And Land Improvements
LandAndLandImprovements
2718117000
CY2022Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
2669498000
CY2023Q1 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
7054296000
CY2022Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
6985394000
CY2023Q1 us-gaap Tenant Improvements
TenantImprovements
355000
CY2022Q4 us-gaap Tenant Improvements
TenantImprovements
355000
CY2023Q1 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
9772768000
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
9655247000
CY2023Q1 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1713611000
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
1660308000
CY2023Q1 nnn Real Estate Investment Property Net Before Development In Process
RealEstateInvestmentPropertyNetBeforeDevelopmentInProcess
8059157000
CY2022Q4 nnn Real Estate Investment Property Net Before Development In Process
RealEstateInvestmentPropertyNetBeforeDevelopmentInProcess
7994939000
CY2023Q1 us-gaap Development In Process
DevelopmentInProcess
45783000
CY2022Q4 us-gaap Development In Process
DevelopmentInProcess
21737000
CY2023Q1 nnn Operating Lease Net Investment In Lease
OperatingLeaseNetInvestmentInLease
8104940000
CY2022Q4 nnn Operating Lease Net Investment In Lease
OperatingLeaseNetInvestmentInLease
8016676000
CY2023Q1 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
3272000
CY2022Q4 us-gaap Direct Financing Lease Net Investment In Lease
DirectFinancingLeaseNetInvestmentInLease
3352000
CY2023Q1 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
3410000
CY2022Q4 us-gaap Inventory Land Held For Sale
InventoryLandHeldForSale
786000
CY2023Q1 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
8111622000
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
8020814000
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
198183000
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
184311000
CY2023Q1 us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
144000
CY2022Q1 us-gaap Direct Financing Lease Lease Income
DirectFinancingLeaseLeaseIncome
151000
CY2023Q1 us-gaap Variable Lease Income
VariableLeaseIncome
763000
CY2022Q1 us-gaap Variable Lease Income
VariableLeaseIncome
701000
CY2023Q1 nnn Operating Lease Income Statement Real Estate Expense Reimbursement From Tenants
OperatingLeaseIncomeStatementRealEstateExpenseReimbursementFromTenants
4540000
CY2022Q1 nnn Operating Lease Income Statement Real Estate Expense Reimbursement From Tenants
OperatingLeaseIncomeStatementRealEstateExpenseReimbursementFromTenants
4600000
CY2023Q1 us-gaap Lease Income
LeaseIncome
203630000
CY2022Q1 us-gaap Lease Income
LeaseIncome
189763000
CY2021Q4 nnn Rent Due
RentDue
4722000
CY2020Q4 nnn Rent Due
RentDue
51945000
CY2023Q1 us-gaap Deferred Rent Credit
DeferredRentCredit
1706000
CY2022Q1 us-gaap Deferred Rent Credit
DeferredRentCredit
4057000
CY2023Q1 nnn Lease Income Accrued During Period
LeaseIncomeAccruedDuringPeriod
469000
CY2022Q1 nnn Lease Income Accrued During Period
LeaseIncomeAccruedDuringPeriod
1096000
CY2023Q1 us-gaap Straight Line Rent
StraightLineRent
9000
CY2022Q1 us-gaap Straight Line Rent
StraightLineRent
1780000
CY2023Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
41371000
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
41371000
CY2023Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
28403000
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
28121000
CY2023Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
12968000
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
13250000
CY2023Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
6300000
CY2022Q1 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
3992000
CY2023Q1 nnn Period For Improvements To Construction Commitments
PeriodForImprovementsToConstructionCommitments
P12M
CY2023Q1 nnn Real Estate Investment Funding Commitments
RealEstateInvestmentFundingCommitments
253106000
CY2023Q1 nnn Real Estate Investment Funding Commitments Amount Funded
RealEstateInvestmentFundingCommitmentsAmountFunded
-100365000
CY2023Q1 nnn Real Estate Investment Funding Commitments Remaining Commitment
RealEstateInvestmentFundingCommitmentsRemainingCommitment
152741000
CY2023Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2640000
CY2022Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
1632000
CY2023Q1 nnn Number Of Impaired Real Estate Properties Vacant
NumberOfImpairedRealEstatePropertiesVacant
3
CY2022Q1 nnn Number Of Impaired Real Estate Properties Vacant
NumberOfImpairedRealEstatePropertiesVacant
3
CY2023Q1 nnn Number Of Impaired Real Estate Properties Occupied
NumberOfImpairedRealEstatePropertiesOccupied
1
CY2022Q1 nnn Number Of Impaired Real Estate Properties Occupied
NumberOfImpairedRealEstatePropertiesOccupied
2
CY2023Q1 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
182350000000
CY2023Q1 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0535
CY2023Q1 nnn Line Of Credit Facility Accordion Feature Increase Limit
LineOfCreditFacilityAccordionFeatureIncreaseLimit
2000000000000
CY2023Q1 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
891000000000
CY2023Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
2497000
CY2023Q1 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
3207626000
CY2022Q4 us-gaap Notes Payable Fair Value Disclosure
NotesPayableFairValueDisclosure
3140774000

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