$SILA
Sila Realty Trust, Inc.

2021 Q2 Form 10-Q Financial Statement

#000156792521000055 Filed on August 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2
Revenue $43.75M $41.73M
YoY Change 4.83% -11.09%
Cost Of Revenue $3.275M $3.895M
YoY Change -15.92%
Gross Profit $40.47M $37.84M
YoY Change 6.97%
Gross Profit Margin 92.51% 90.67%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $296.0K
YoY Change
% of Gross Profit 0.73%
Operating Expenses $46.28M
YoY Change 50.37%
Operating Profit $9.285M $15.13M
YoY Change -38.64% -6.34%
Interest Expense -$9.534M -$10.81M
YoY Change -11.8% 9.26%
% of Operating Profit -102.68% -71.43%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $16.06M $11.10M
YoY Change 44.71% 77.12%
Net Earnings / Revenue 36.7% 26.59%
Basic Earnings Per Share $0.07 $0.05
Diluted Earnings Per Share $0.07 $0.05
COMMON SHARES
Basic Shares Outstanding 223.1M shares 221.0M shares
Diluted Shares Outstanding 223.1M shares 221.0M shares

Balance Sheet

Concept 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $47.92M $74.78M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $23.28M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $3.190B $3.218B
YoY Change -0.89% 65.78%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $1.551B $1.547B
YoY Change 0.28% 64.91%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $2.233M $2.209M
YoY Change 1.09% 61.95%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.639B $1.672B
YoY Change
Total Liabilities & Shareholders Equity $3.190B $3.218B
YoY Change -0.89% 65.78%

Cashflow Statement

Concept 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income $16.06M $11.10M
YoY Change 44.71% 77.12%
Depreciation, Depletion And Amortization $296.0K
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Amendment Flag
AmendmentFlag
false
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001567925
dei No Trading Symbol Flag
NoTradingSymbolFlag
true
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2021-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
000-55435
dei Entity Registrant Name
EntityRegistrantName
SILA REALTY TRUST, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-1854011
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-1854011
dei Entity Address Address Line1
EntityAddressAddressLine1
4890 West Kennedy Blvd.
dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 650
dei Entity Address City Or Town
EntityAddressCityOrTown
Tampa
dei Entity Address State Or Province
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FL
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
33609
dei City Area Code
CityAreaCode
813
dei Local Phone Number
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287-0101
dei Security12b Title
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dei Entity Filer Category
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dei Entity Small Business
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CommonStockDividendsPerShareDeclared
0.12
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.24
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.24
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1692666000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
7711000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
30000 USD
CY2020Q2 cik0001567925 Adjustments To Additional Paid In Capital Distribution And Servicing Fees
AdjustmentsToAdditionalPaidInCapitalDistributionAndServicingFees
26000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
2000 USD
CY2020Q2 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
12244000 USD
CY2020Q2 us-gaap Dividends Common Stock
DividendsCommonStock
26572000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1140000 USD
CY2020Q2 us-gaap Profit Loss
ProfitLoss
11095000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1671570000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1738419000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
15442000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
57000 USD
cik0001567925 Adjustments To Additional Paid In Capital Distribution And Servicing Fees
AdjustmentsToAdditionalPaidInCapitalDistributionAndServicingFees
59000 USD
us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
9000 USD
us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
24521000 USD
us-gaap Dividends Common Stock
DividendsCommonStock
53167000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-21474000 USD
us-gaap Profit Loss
ProfitLoss
16764000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1671570000 USD
us-gaap Profit Loss
ProfitLoss
18938000 USD
us-gaap Profit Loss
ProfitLoss
16764000 USD
cik0001567925 Depreciation And Amortization From Real Estate
DepreciationAndAmortizationFromRealEstate
47554000 USD
cik0001567925 Depreciation And Amortization From Real Estate
DepreciationAndAmortizationFromRealEstate
52359000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2007000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1893000 USD
cik0001567925 Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
967000 USD
cik0001567925 Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
1500000 USD
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
2219000 USD
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
2757000 USD
cik0001567925 Amortization Of Notes Receivable Origination Fee
AmortizationOfNotesReceivableOriginationFee
138000 USD
cik0001567925 Amortization Of Notes Receivable Origination Fee
AmortizationOfNotesReceivableOriginationFee
26000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
109000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
476000 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
467000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
9000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
16925000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
671000 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
0 USD
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
2703000 USD
us-gaap Straight Line Rent
StraightLineRent
9078000 USD
us-gaap Straight Line Rent
StraightLineRent
10911000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1119000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
57000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3195000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-543000 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
0 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
21000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-308000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
433000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
81119000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
55740000 USD
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
25048000 USD
us-gaap Payments To Acquire Real Estate Held For Investment
PaymentsToAcquireRealEstateHeldForInvestment
5030000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
7500000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
0 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
6129000 USD
us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
14743000 USD
us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
13610000 USD
cik0001567925 Payments Of Deal Costs
PaymentsOfDealCosts
0 USD
cik0001567925 Payments Of Deal Costs
PaymentsOfDealCosts
126000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
0 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
-100000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
500000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-46791000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12537000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2238000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
1743000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
15000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
95000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
65000000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
92000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
32000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
95000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4078000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
24521000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1232000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1608000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
38955000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
38065000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-31690000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-35969000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2638000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
7234000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67909000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80230000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70547000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87464000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
212000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
281000 USD
us-gaap Interest Paid Net
InterestPaidNet
24878000 USD
us-gaap Interest Paid Net
InterestPaidNet
29083000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
14833000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
15442000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
885000 USD
cik0001567925 Origination Of Notes Receivable Related To Real Estate Disposition
OriginationOfNotesReceivableRelatedToRealEstateDisposition
0 USD
cik0001567925 Origination Of Notes Receivable Related To Real Estate Disposition
OriginationOfNotesReceivableRelatedToRealEstateDisposition
28000000 USD
us-gaap Nature Of Operations
NatureOfOperations
Organization and Business Operations <div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Sila Realty Trust, Inc., or the Company, is a Maryland corporation that was formed on January 11, 2013. The Company elected, and currently qualifies, to be taxed as a real estate investment trust, or a REIT, under the Internal Revenue Code of 1986, as amended, or the Code, for federal income tax purposes commencing with its taxable year ended December 31, 2014. Substantially all of the Company’s business is conducted through Sila Realty Operating Partnership, LP, a Delaware limited partnership, or the Operating Partnership, formed on January 10, 2013. The Company is the sole general partner and, prior to the completion of the Internalization Transaction (as defined herein) on September 30, 2020, Carter Validus Advisors II, LLC, or the Former Advisor, was the special limited partner of the Operating Partnership. As of the closing of the Internalization Transaction, the Company owns directly or indirectly, all of the interests in the Operating Partnership.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to September 30, 2020, the Former Advisor was responsible for managing the Company’s affairs on a day-to-day basis and for identifying and making investments on the Company’s behalf pursuant to an advisory agreement among the Company, the Operating Partnership and the Former Advisor. On July 28, 2020, the Company and the Operating Partnership entered into a Membership Interest Purchase Agreement, or the Purchase Agreement, to provide for the internalization of the external management functions previously performed for the Company and the Operating Partnership by the Former Advisor and its affiliates, or the Internalization Transaction. On September 30, 2020, the Company closed the Internalization Transaction. Effective September 30, 2020, as a result of the Internalization Transaction, the Former Advisor is no longer affiliated with the Company.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Upon completion of the Internalization Transaction, individuals, who were previously employed by an affiliate of the Former Advisor, became employees of the Company and the functions previously performed by the Former Advisor were internalized by the Company. As an internally managed company, the Company no longer pays the Former Advisor and its affiliates any fees or expense reimbursements arising from the advisory agreement.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, on September 30, 2020, the Operating Partnership redeemed the Former Advisor’s limited partner interest (including special limited partner interest) in the Operating Partnership in connection with the Internalization Transaction. On September 30, 2020, the Company and Sila REIT, LLC, a Maryland limited liability company that is the sole limited partner of the Operating Partnership, entered into the Third Amended and Restated Agreement of Limited Partnership of the Operating Partnership, or the Third A&amp;R LP Agreement, in order to reflect the completion of the Internalization Transaction.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company was formed to invest primarily in quality income-producing commercial real estate, with a focus on data centers and healthcare properties, preferably with long-term leases to creditworthy tenants, as well as to make other real estate-related investments in such property types, which may include equity or debt interests in other real estate entities. </span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three months ended June 30, 2021, the Company's board of directors, or the Board, made a determination to sell the Company's data center assets. On May 19, 2021, the Company and certain of its wholly-owned subsidiaries entered into a purchase and sale agreement, or the PSA, for the sale of up to 29 data center properties owned by the Company, which constitutes the entirety of the Company's data centers segment. See Note 3—"Discontinued Operations" for further discussion. The decision of the Board to sell the data center assets, as well as the execution of the PSA, represented a strategic shift that had a major effect on the Company's results and operations and assets and liabilities for the periods presented. As a result, the Company has classified the assets and liabilities in its data centers segment as assets held for sale, net, and liabilities held for sale, net, respectively, on the condensed consolidated balance sheets and the operations have been classified as income from discontinued operations on the condensed consolidated statements of comprehensive income (loss). As of June 30, 2021, the Company owned 154 real estate properties, including 29 real estate properties classified as discontinued operations, in two micropolitan statistical areas and 68 metropolitan statistical areas, or MSAs.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 22, 2021, the Company completed the sale of all 29 of its data centers, or the Data Center Sale, for an aggregate sale price of $1,320,000,000, and generated proceeds of approximately $1,290,557,000, after transaction costs and other pro-rations, excluding defeasance and loan costs, subject to additional transaction costs paid subsequent to the closing date. See Note 18—"Subsequent Events" for additional information. Concurrently, the Board declared a special cash distribution of $1.75 per share of Class A, Class I, Class T and Class T2 shares of common stock. The special cash distribution was funded with the proceeds from the Data Center Sale. The special cash distribution was paid on July 30, 2021 to stockholders of record at the close of business on July 26, 2021, in the aggregate amount of approximately $392,685,000.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company raised the equity capital for its real estate investments through two public offerings, or the Offerings, from May 2014 through November 2018, and the Company has offered shares pursuant to its distribution reinvestment plan, or the </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">DRIP, pursuant to two Registration Statements on Form S-3, or each, a DRIP Offering and together the DRIP Offerings, since November 2017.</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Except as the context otherwise requires, the “Company” refers to Sila Realty Trust, Inc., the Operating Partnership and all wholly-owned subsidiaries.</span></div>
CY2021Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
154 property
CY2021Q2 cik0001567925 Number Of Micropolitan Statistical Areas In Which Company Owns Rental Property
NumberOfMicropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
2 statisticalArea
CY2021Q2 cik0001567925 Number Of Metropolitan Statistical Areas In Which Company Owns Rental Property
NumberOfMetropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
68 statisticalArea
CY2018Q4 cik0001567925 Number Of Public Offerings
NumberOfPublicOfferings
2 initial_public_offering
CY2021Q2 cik0001567925 Number Of Registration Statements On Form S3
NumberOfRegistrationStatementsOnFormS3
2 registration_statement
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the condensed consolidated financial statements and accompanying notes in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. These estimates are made and evaluated on an ongoing basis using information that is currently available as well as various other assumptions believed to be reasonable under the circumstances. Actual results could differ from those estimates.</span></div>
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53174000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69342000 USD
CY2020Q4 us-gaap Restricted Cash
RestrictedCash
14735000 USD
CY2019Q4 us-gaap Restricted Cash
RestrictedCash
10888000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67909000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80230000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
47921000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
74782000 USD
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
22626000 USD
CY2020Q2 us-gaap Restricted Cash
RestrictedCash
12682000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70547000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
87464000 USD
CY2021Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
10423000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2020Q2 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2021Q2 us-gaap Restructuring Reserve Accelerated Depreciation
RestructuringReserveAcceleratedDepreciation
296000 USD
CY2020Q2 cik0001567925 Accelerated Amortization Of Intangible Liabilities Finite Lived
AcceleratedAmortizationOfIntangibleLiabilitiesFiniteLived
0 USD
CY2020Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2021Q2 cik0001567925 Accelerated Amortization Of Intangible Liabilities Finite Lived
AcceleratedAmortizationOfIntangibleLiabilitiesFiniteLived
0 USD
CY2021Q2 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
CY2021Q2 cik0001567925 Proceeds From Lease Termination
ProceedsFromLeaseTermination
400000 USD
CY2021Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
240000 USD
CY2021Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
240000 USD
CY2021Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
431000 USD
CY2021Q2 us-gaap Number Of Reporting Units
NumberOfReportingUnits
2 unit
CY2021Q2 us-gaap Number Of Reporting Units
NumberOfReportingUnits
2 unit
CY2020Q4 us-gaap Goodwill
Goodwill
23955000 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
671000 USD
CY2021Q2 us-gaap Goodwill
Goodwill
23284000 USD
cik0001567925 Operating Lease Lease Income Lease Payments Impairment
OperatingLeaseLeaseIncomeLeasePaymentsImpairment
199000 USD
cik0001567925 Operating Lease Lease Income Lease Payments Impairment
OperatingLeaseLeaseIncomeLeasePaymentsImpairment
4000 USD
CY2021Q2 cik0001567925 Operating Lease Lease Income Lease Payments Impairment
OperatingLeaseLeaseIncomeLeasePaymentsImpairment
0 USD
CY2020Q2 cik0001567925 Operating Lease Lease Income Lease Payments Impairment
OperatingLeaseLeaseIncomeLeasePaymentsImpairment
0 USD
CY2021Q2 cik0001567925 Proceeds From Lease Termination
ProceedsFromLeaseTermination
7000000 USD
CY2021Q1 cik0001567925 Lease Settlement Agreement Receivable
LeaseSettlementAgreementReceivable
620000 USD
CY2021Q2 cik0001567925 Lease Settlement Agreement Revenue
LeaseSettlementAgreementRevenue
75000 USD
cik0001567925 Lease Settlement Agreement Revenue
LeaseSettlementAgreementRevenue
245000 USD
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk and Significant Leases</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2021, the Company had cash on deposit, including restricted cash, in certain financial institutions that had deposits in excess of current federally insured levels. The Company limits its cash investments to financial institutions with </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">high credit standings; therefore, the Company believes it is not exposed to any significant credit risk on its cash deposits. To date, the Company has not experienced a loss or lack of access to cash in its accounts. </span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2021, the Company owned real estate investments in two micropolitan statistical areas and 68 metropolitan statistical areas, or MSAs, one MSA of which accounted for 10.0% or more of rental revenue from continuing operations for the six months ended June 30, 2021. Real estate investments located in the Houston-The Woodlands-Sugar Land, Texas MSA accounted for 12.1% of rental revenue from continuing operations for the six months ended June 30, 2021</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2021, the Company had one exposure to tenant concentration that accounted for 10.0% or more of rental revenue from continuing operations for the six months ended June 30, 2021. The leases with tenants at healthcare properties under common control of Post Acute Medical, LLC and affiliates accounted for 16.2% of rental revenue from continuing operations for the six months ended June 30, 2021.</span></div>
CY2021Q2 cik0001567925 Number Of Micropolitan Statistical Areas In Which Company Owns Rental Property
NumberOfMicropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
2 statisticalArea
CY2021Q2 cik0001567925 Number Of Metropolitan Statistical Areas In Which Company Owns Rental Property
NumberOfMetropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
68 statisticalArea
cik0001567925 Share Repurchase Program Percentageof Outstanding Common Stock Maximum
ShareRepurchaseProgramPercentageofOutstandingCommonStockMaximum
0.050
cik0001567925 Share Repurchase Program Percentageof Outstanding Common Stock Maximum
ShareRepurchaseProgramPercentageofOutstandingCommonStockMaximum
0.050
cik0001567925 Period Of Notice Required For Changes To Share Repurchase Program
PeriodOfNoticeRequiredForChangesToShareRepurchaseProgram
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<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform to the current financial statement presentation, with no effect on the Company’s condensed consolidated financial position or condensed consolidated statement of comprehensive income (loss). Amounts related to expenses incurred in connection with the Internalization Transaction were previously classified in general and administrative expenses, for the three and six months ended June 30, 2020, but are now presented separately as internalization transaction expenses, in the condensed consolidated statements of comprehensive income (loss). In addition, the Company's assets and liabilities related to the data center properties are classified as assets held for sale, net, and liabilities held for sale, net, respectively, on the condensed consolidated balance sheets and their operations are classified as income from discontinued operations on the condensed consolidated statements of comprehensive income (loss) for all periods presented.</span></div>
CY2020Q2 us-gaap Business Combination Acquisition Related Costs
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CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received
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CY2021Q2 us-gaap Number Of Properties Subject To Ground Leases
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us-gaap Finance Lease Interest Expense
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1052000 USD
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1634000 USD
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58000 USD
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812000 USD
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845000 USD
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801000 USD
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0 USD
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801000 USD
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CY2021Q2 cik0001567925 Business Combination Recognized Identifiable Assets Acquiredand Liabilities Assumed Deferred Internalization Transaction Purchase Price
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7337000 USD
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14728000 USD
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11639000 USD
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17231000 USD
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NotesPayableGross
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10437000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
0 USD
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LongTermLineOfCreditGross
953000000 USD
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5021000 USD
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CY2021Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
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us-gaap Related Party Transaction Expenses From Transactions With Related Party
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19946000 USD
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240000 USD
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431000 USD
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2 unit
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561000 USD
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2771000 USD
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974000 USD
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0 USD
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974000 USD
CY2021Q2 us-gaap Derivative Collateral Obligation To Return Securities
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413000 USD
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0 USD
CY2021Q2 us-gaap Derivative Fair Value Of Derivative Liability
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0 USD
CY2021Q2 cik0001567925 Derivative Liability Continuing And Discontinued Operations
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13784000 USD
CY2021Q2 us-gaap Derivative Collateral Right To Reclaim Securities
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413000 USD
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0 USD
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20444000 USD
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0 USD
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20444000 USD
CY2020Q4 us-gaap Derivative Collateral Right To Reclaim Securities
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0 USD
CY2020Q4 us-gaap Derivative Collateral Right To Reclaim Cash
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0 USD
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20444000 USD
CY2021Q2 us-gaap Loss Contingency Pending Claims Number
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0 legalProceeding

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