$SILA
Sila Realty Trust, Inc.

2021 Q3 Form 10-Q Financial Statement

#000156792521000070 Filed on November 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $43.06M $40.72M
YoY Change 5.75% -15.27%
Cost Of Revenue $3.024M $4.405M
YoY Change -31.35%
Gross Profit $40.04M $36.32M
YoY Change 10.25%
Gross Profit Margin 92.98% 89.18%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $52.12M
YoY Change 13.86%
Operating Profit $6.191M $9.284M
YoY Change -33.32% 305.41%
Interest Expense -$11.74M -$9.865M
YoY Change 18.98% -17.24%
% of Operating Profit -189.58% -106.26%
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $371.6M $5.264M
YoY Change 6960.13% -154.66%
Net Earnings / Revenue 863.03% 12.93%
Basic Earnings Per Share $1.66 $0.02
Diluted Earnings Per Share $1.66 $0.02
COMMON SHARES
Basic Shares Outstanding 223.7M shares 221.3M shares
Diluted Shares Outstanding 223.7M shares 221.3M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $75.36M $75.51M
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 $39.53M
YoY Change -41.1%
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 $2.200B $3.261B
YoY Change -32.53% 63.92%
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 $598.6M $1.603B
YoY Change -62.65% 58.68%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $2.238M $2.215M
YoY Change 1.04% 61.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.602B $1.658B
YoY Change
Total Liabilities & Shareholders Equity $2.200B $3.261B
YoY Change -32.53% 63.92%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $371.6M $5.264M
YoY Change 6960.13% -154.66%
Depreciation, Depletion And Amortization
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
Q3
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
2021-09-30
dei Document Transition Report
DocumentTransitionReport
false
dei Document Transition Report
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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 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
EntityAddressStateOrProvince
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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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q3 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
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CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
45000 USD
CY2020Q3 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
2000 USD
CY2020Q3 cik0001567925 Adjustments To Additional Paid In Capital Distribution And Servicing Fees
AdjustmentsToAdditionalPaidInCapitalDistributionAndServicingFees
6000 USD
CY2020Q3 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
1940000 USD
CY2020Q3 us-gaap Dividends Common Stock
DividendsCommonStock
26896000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
2584000 USD
CY2020Q3 us-gaap Profit Loss
ProfitLoss
5264000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1658244000 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
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23055000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
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102000 USD
us-gaap Minority Interest Decrease From Redemptions
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2000 USD
cik0001567925 Adjustments To Additional Paid In Capital Distribution And Servicing Fees
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65000 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
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26461000 USD
us-gaap Dividends Common Stock
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80063000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-18890000 USD
us-gaap Profit Loss
ProfitLoss
22028000 USD
CY2020Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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1658244000 USD
us-gaap Profit Loss
ProfitLoss
390583000 USD
us-gaap Profit Loss
ProfitLoss
22028000 USD
cik0001567925 Depreciation And Amortization From Real Estate
DepreciationAndAmortizationFromRealEstate
64843000 USD
cik0001567925 Depreciation And Amortization From Real Estate
DepreciationAndAmortizationFromRealEstate
80607000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2761000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2883000 USD
cik0001567925 Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
1450000 USD
cik0001567925 Amortization Of Above Market Lease
AmortizationOfAboveMarketLease
1983000 USD
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
2689000 USD
us-gaap Amortization Of Below Market Lease
AmortizationOfBelowMarketLease
6050000 USD
cik0001567925 Amortization Of Notes Receivable Origination Fee
AmortizationOfNotesReceivableOriginationFee
394000 USD
cik0001567925 Amortization Of Notes Receivable Origination Fee
AmortizationOfNotesReceivableOriginationFee
96000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
272000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0 USD
cik0001567925 Amortization Of Interest Rate Swap Terminations And Other
AmortizationOfInterestRateSwapTerminationsAndOther
833000 USD
cik0001567925 Amortization Of Interest Rate Swap Terminations And Other
AmortizationOfInterestRateSwapTerminationsAndOther
0 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
660000 USD
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
701000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
14000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
1000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
27166000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Goodwill Impairment Loss
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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 Gain Loss On Disposition Of Real Estate Discontinued Operations
GainLossOnDispositionOfRealEstateDiscontinuedOperations
395801000 USD
us-gaap Gain Loss On Disposition Of Real Estate Discontinued Operations
GainLossOnDispositionOfRealEstateDiscontinuedOperations
0 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-28751000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Straight Line Rent
StraightLineRent
12492000 USD
us-gaap Straight Line Rent
StraightLineRent
16146000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1756000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
102000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-7172000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1745000 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
0 USD
us-gaap Increase Decrease In Due To Affiliates
IncreaseDecreaseInDueToAffiliates
-3350000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2816000 USD
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1293000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
104816000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
80604000 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
16064000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
15000000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
25000000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
1295367000 USD
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
6125000 USD
us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
20323000 USD
us-gaap Payments For Construction In Process
PaymentsForConstructionInProcess
21251000 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
400000 USD
us-gaap Payments For Proceeds From Deposits On Real Estate Acquisitions
PaymentsForProceedsFromDepositsOnRealEstateAcquisitions
-600000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
28500000 USD
us-gaap Proceeds From Collection Of Notes Receivable
ProceedsFromCollectionOfNotesReceivable
0 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1263096000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-55716000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
453422000 USD
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
2822000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
15000000 USD
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
140000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
433000000 USD
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
65000000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
29244000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
436000 USD
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6564000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
26461000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1807000 USD
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
2384000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
450143000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
57321000 USD
CY2021Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
978000 USD
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1359616000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-14612000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
8296000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
10276000 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
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76205000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90506000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
296000 USD
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
463000 USD
us-gaap Interest Paid Net
InterestPaidNet
34142000 USD
us-gaap Interest Paid Net
InterestPaidNet
42103000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
21750000 USD
us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
23055000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1186000 USD
cik0001567925 Deal Costs Incurred But Not Yet Paid
DealCostsIncurredButNotYetPaid
56000 USD
cik0001567925 Deal Costs Incurred But Not Yet Paid
DealCostsIncurredButNotYetPaid
13000 USD
cik0001567925 Deferred Internalization Transaction Purchase Price
DeferredInternalizationTransactionPurchasePrice
0 USD
cik0001567925 Deferred Internalization Transaction Purchase Price
DeferredInternalizationTransactionPurchasePrice
14674000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
625000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1060000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
2854000 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 second quarter of 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 constituted the entirety of the Company's data center segment. See Note 4—"Held for Sale and 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 related to the data center 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.</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 net proceeds of approximately $1,295,367,000. See Note 3—"Acquisitions and Dispositions" for further discussion. 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%">As of September 30, 2021, the Company owned 125 real estate healthcare properties, in two micropolitan statistical areas and 54 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%">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>
CY2021Q3 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
1.75
CY2021Q3 us-gaap Dividends
Dividends
392685000 USD
CY2021Q3 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
125 property
CY2021Q3 cik0001567925 Number Of Micropolitan Statistical Areas In Which Company Owns Rental Property
NumberOfMicropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
2 statisticalArea
CY2021Q3 cik0001567925 Number Of Metropolitan Statistical Areas In Which Company Owns Rental Property
NumberOfMetropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
54 statisticalArea
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67909000 USD
CY2018Q4 cik0001567925 Number Of Public Offerings
NumberOfPublicOfferings
2 initial_public_offering
CY2021Q3 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
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80230000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75363000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
75505000 USD
CY2021Q3 us-gaap Restricted Cash
RestrictedCash
842000 USD
CY2020Q3 us-gaap Restricted Cash
RestrictedCash
15001000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76205000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90506000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2020Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2021Q2 us-gaap Depreciation
Depreciation
296000 USD
CY2021Q3 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
94000 USD
CY2021Q3 cik0001567925 Accelerated Amortization Of Intangible Liabilities Finite Lived
AcceleratedAmortizationOfIntangibleLiabilitiesFiniteLived
0 USD
CY2021Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
0 USD
cik0001567925 Accelerated Amortization Of Intangible Liabilities Finite Lived
AcceleratedAmortizationOfIntangibleLiabilitiesFiniteLived
0 USD
CY2021Q2 cik0001567925 Proceeds From Lease Termination
ProceedsFromLeaseTermination
400000 USD
CY2021Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2020Q4 us-gaap Goodwill
Goodwill
23955000 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
671000 USD
CY2021Q3 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
CY2020Q3 cik0001567925 Operating Lease Lease Income Lease Payments Impairment
OperatingLeaseLeaseIncomeLeasePaymentsImpairment
0 USD
CY2021Q3 cik0001567925 Operating Lease Lease Income Lease Payments Impairment
OperatingLeaseLeaseIncomeLeasePaymentsImpairment
0 USD
CY2021Q1 cik0001567925 Lease Settlement Agreement Receivable
LeaseSettlementAgreementReceivable
620000 USD
CY2021Q3 cik0001567925 Lease Settlement Agreement Revenue
LeaseSettlementAgreementRevenue
50000 USD
cik0001567925 Lease Settlement Agreement Revenue
LeaseSettlementAgreementRevenue
295000 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 September 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 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 September 30, 2021, the Company owned real estate investments in two micropolitan statistical areas and 54 MSAs, one MSA of which accounted for 10.0% or more of rental revenue from continuing operations for the nine months ended September 30, 2021. Real estate investments located in the Houston-The Woodlands-Sugar Land, Texas MSA accounted for 12.0% of rental revenue from continuing operations for the nine months ended September 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 September 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 nine months ended September 30, 2021. The leases with tenants at healthcare properties under common control of Post Acute Medical, LLC and affiliates accounted for 16.3% of rental revenue from continuing operations for the nine months ended September 30, 2021.</span></div>
CY2021Q3 cik0001567925 Number Of Micropolitan Statistical Areas In Which Company Owns Rental Property
NumberOfMicropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
2 statisticalArea
CY2021Q3 cik0001567925 Number Of Metropolitan Statistical Areas In Which Company Owns Rental Property
NumberOfMetropolitanStatisticalAreasInWhichCompanyOwnsRentalProperty
54 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
P30D
cik0001567925 Share Repurchase Program Percentageof Outstanding Common Stock Maximum
ShareRepurchaseProgramPercentageofOutstandingCommonStockMaximum
0.050
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
178366 shares
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
637000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
45000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1756000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
102000 USD
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
990000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
965000 shares
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
60000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
42000 shares
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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. The Company's assets and liabilities related to the data center properties and two healthcare properties are classified as assets held for sale, net, and liabilities held for sale, net, respectively, on the condensed consolidated balance sheets. Additionally, operations of data center properties are classified as income from discontinued operations on the condensed consolidated statements of comprehensive income for all periods presented.</span></div>
cik0001567925 Number Of Real Estate Properties Acquired
NumberOfRealEstatePropertiesAcquired
1 property
cik0001567925 Capitalized Acquisition Costs And Fees Additions
CapitalizedAcquisitionCostsAndFeesAdditions
48000 USD
CY2021Q3 cik0001567925 Expected Demolition Expense
ExpectedDemolitionExpense
305000 USD
CY2020Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
2235000 USD
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
3640000 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
37841000 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
155544000 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
158052000 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
158052000 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
153839000 USD
CY2021Q3 cik0001567925 Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
1059376000 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1722704000 USD
CY2021Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
1722704000 USD
CY2021Q3 us-gaap Lessor Operating Lease Lease Not Yet Commenced Assumption And Judgment Value Of Underlying Asset Amount
LessorOperatingLeaseLeaseNotYetCommencedAssumptionAndJudgmentValueOfUnderlyingAssetAmount
16476000 USD
CY2021Q3 cik0001567925 Lessor Operating Lease Lease Not Yet Commenced Number Of Executed Leases
LessorOperatingLeaseLeaseNotYetCommencedNumberOfExecutedLeases
2 lease
CY2021Q3 cik0001567925 Lessor Operating Lease Lease Not Yet Commenced Number Of Development Properties
LessorOperatingLeaseLeaseNotYetCommencedNumberOfDevelopmentProperties
1 property
CY2021Q3 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
15 lease
CY2021Q3 cik0001567925 Lessee Operating Lease Number Of Corporate Related Leases
LesseeOperatingLeaseNumberOfCorporateRelatedLeases
1 lease
CY2021Q3 cik0001567925 Lessee Finance Lease Numberof Leases
LesseeFinanceLeaseNumberofLeases
1 lease
CY2021Q3 cik0001567925 Lessee Operating Lease Office Numberof Leases
LesseeOperatingLeaseOfficeNumberofLeases
1 lease
CY2021Q3 us-gaap Number Of Properties Subject To Ground Leases
NumberOfPropertiesSubjectToGroundLeases
15 lease
CY2021Q3 cik0001567925 Number Of Ground Leases Without Operating Lease Liabilities
NumberOfGroundLeasesWithoutOperatingLeaseLiabilities
4 lease
CY2021Q3 cik0001567925 Lessee Finance Lease Numberof Leases
LesseeFinanceLeaseNumberofLeases
1 lease
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.054
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P36Y4M24D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P38Y
CY2021Q3 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.053
CY2021Q3 us-gaap Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
P42Y7M6D
CY2020Q4 us-gaap Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
P43Y4M24D
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
541000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
34000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1367000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
136000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1326000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
136000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1380000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
141000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1385000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
143000 USD
CY2021Q3 cik0001567925 Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
66425000 USD
CY2021Q3 cik0001567925 Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
6584000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
72424000 USD
CY2021Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
7174000 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
48449000 USD
CY2021Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
4540000 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
23975000 USD
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
2634000 USD
CY2021Q3 cik0001567925 Number Of Notes Receivable Outstanding
NumberOfNotesReceivableOutstanding
1 noteReceivable
CY2021Q3 us-gaap Notes Receivable Net
NotesReceivableNet
2200000 USD
CY2021Q3 us-gaap Notes Receivable Net
NotesReceivableNet
2200000 USD
CY2020Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
CY2020Q4 us-gaap Notes Receivable Net
NotesReceivableNet
31262000 USD
cik0001567925 Number Of Notes Receivable During Period
NumberOfNotesReceivableDuringPeriod
2 noteReceivable
CY2021Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 USD
CY2021Q3 us-gaap Accumulated Amortization Of Debt Issuance Costs Line Of Credit Arrangements
AccumulatedAmortizationOfDebtIssuanceCostsLineOfCreditArrangements
7936000 USD
CY2020Q4 us-gaap Accumulated Amortization Of Debt Issuance Costs Line Of Credit Arrangements
AccumulatedAmortizationOfDebtIssuanceCostsLineOfCreditArrangements
6902000 USD
CY2021Q3 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
857000 USD
CY2020Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
1634000 USD
CY2021Q3 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
105000 USD
CY2020Q4 us-gaap Deferred Costs Leasing Accumulated Amortization
DeferredCostsLeasingAccumulatedAmortization
58000 USD
CY2021Q3 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
855000 USD
CY2020Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
845000 USD
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
842000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
13499000 USD
CY2021Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
1527000 USD
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
1965000 USD
CY2021Q3 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
52715000 USD
CY2020Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
42732000 USD
CY2021Q3 cik0001567925 Deposits On Real Estate Acquisitions
DepositsOnRealEstateAcquisitions
400000 USD
CY2020Q4 cik0001567925 Deposits On Real Estate Acquisitions
DepositsOnRealEstateAcquisitions
0 USD
CY2021Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
3258000 USD
CY2020Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
3994000 USD
CY2021Q3 us-gaap Derivative Assets
DerivativeAssets
1002000 USD
CY2020Q4 us-gaap Derivative Assets
DerivativeAssets
0 USD
CY2021Q3 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
61456000 USD
CY2020Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
64669000 USD
CY2021Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
8778000 USD
CY2021Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
1773000 USD
CY2020Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
3257000 USD
CY2021Q3 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
2428000 USD
CY2020Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
10011000 USD
CY2020Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
2090000 USD
CY2021Q3 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
2560000 USD
CY2020Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
1202000 USD
CY2021Q3 cik0001567925 Distribution And Servicing Fees Payable
DistributionAndServicingFeesPayable
692000 USD
CY2020Q4 cik0001567925 Distribution And Servicing Fees Payable
DistributionAndServicingFeesPayable
3128000 USD
CY2021Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
7099000 USD
CY2020Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
9117000 USD
CY2021Q3 cik0001567925 Performance Based Deferred Stock Unit Awards Distributions Payable
PerformanceBasedDeferredStockUnitAwardsDistributionsPayable
376000 USD
CY2020Q4 cik0001567925 Performance Based Deferred Stock Unit Awards Distributions Payable
PerformanceBasedDeferredStockUnitAwardsDistributionsPayable
0 USD
CY2021Q3 us-gaap Deposit Liability Current
DepositLiabilityCurrent
801000 USD
CY2020Q4 us-gaap Deposit Liability Current
DepositLiabilityCurrent
801000 USD
CY2021Q3 cik0001567925 Deferred Income Rent
DeferredIncomeRent
5778000 USD
CY2020Q4 cik0001567925 Deferred Income Rent
DeferredIncomeRent
6381000 USD
CY2021Q3 cik0001567925 Business Combination Recognized Identifiable Assets Acquiredand Liabilities Assumed Deferred Internalization Transaction Purchase Price
BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredInternalizationTransactionPurchasePrice
0 USD
CY2020Q4 cik0001567925 Business Combination Recognized Identifiable Assets Acquiredand Liabilities Assumed Deferred Internalization Transaction Purchase Price
BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredInternalizationTransactionPurchasePrice
14728000 USD
CY2021Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
978000 USD
CY2020Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
0 USD
CY2021Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
9309000 USD
CY2020Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
17231000 USD
CY2021Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
40572000 USD
CY2020Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
67946000 USD
CY2021Q3 cik0001567925 Notes Payable Gross
NotesPayableGross
0 USD
CY2020Q4 cik0001567925 Notes Payable Gross
NotesPayableGross
147327000 USD
CY2021Q3 cik0001567925 Debt Issuance Costs Notes Payable Net
DebtIssuanceCostsNotesPayableNet
0 USD
CY2020Q4 cik0001567925 Debt Issuance Costs Notes Payable Net
DebtIssuanceCostsNotesPayableNet
682000 USD
CY2021Q3 us-gaap Notes Payable
NotesPayable
0 USD
CY2020Q4 us-gaap Notes Payable
NotesPayable
146645000 USD
CY2021Q3 cik0001567925 Long Term Line Of Credit Gross
LongTermLineOfCreditGross
520000000 USD
CY2020Q4 cik0001567925 Long Term Line Of Credit Gross
LongTermLineOfCreditGross
938000000 USD
CY2021Q3 cik0001567925 Debt Issuance Costs Term Loan Of Credit Facility Net
DebtIssuanceCostsTermLoanOfCreditFacilityNet
3494000 USD
CY2020Q4 cik0001567925 Debt Issuance Costs Term Loan Of Credit Facility Net
DebtIssuanceCostsTermLoanOfCreditFacilityNet
5900000 USD
CY2021Q3 us-gaap Line Of Credit
LineOfCredit
516506000 USD
CY2020Q4 us-gaap Line Of Credit
LineOfCredit
932100000 USD
CY2021Q3 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
30000000 USD
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
516506000 USD
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
1078745000 USD
CY2021Q3 cik0001567925 Debt Instrument Debt Covenants Distribution Limitation Percentage
DebtInstrumentDebtCovenantsDistributionLimitationPercentage
0.95
CY2021Q3 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
403000000 USD
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-28751000 USD
CY2021Q3 cik0001567925 Defeasance Costs
DefeasanceCosts
26082000 USD
CY2021Q3 cik0001567925 Accelerated Unamortized Debt Issuance Costs
AcceleratedUnamortizedDebtIssuanceCosts
2669000 USD
CY2021Q3 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-28751000 USD
CY2020Q3 dei Entity Number Of Employees
EntityNumberOfEmployees
0 employee
CY2020Q3 cik0001567925 Special Limited Partnership Interest Shareholder Rateof Returnon Investment
SpecialLimitedPartnershipInterestShareholderRateofReturnonInvestment
0.080
CY2021Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
0 USD
CY2020Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
9195000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
0 USD
CY2021Q3 cik0001567925 Notes Receivable Face Amount
NotesReceivableFaceAmount
2200000 USD
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
29141000 USD
CY2020Q4 cik0001567925 Notes Receivable Face Amount
NotesReceivableFaceAmount
30700000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
CY2020Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
0 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
27166000 USD
CY2021Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q3 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
-7810000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
-253000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-2494000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
-157000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-2741000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
2518000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-7290000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
-24011000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-5121000 USD
CY2021Q3 us-gaap Derivative Net Liability Position Aggregate Fair Value
DerivativeNetLiabilityPositionAggregateFairValue
9507000 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
1002000 USD
CY2021Q3 us-gaap Derivative Asset Fair Value Gross Liability
DerivativeAssetFairValueGrossLiability
0 USD
CY2021Q3 us-gaap Derivative Assets
DerivativeAssets
1002000 USD
CY2021Q3 us-gaap Derivative Collateral Obligation To Return Securities
DerivativeCollateralObligationToReturnSecurities
433000 USD
CY2021Q3 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
0 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
569000 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
9309000 USD
CY2021Q3 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0 USD
CY2021Q3 cik0001567925 Derivative Liability Continuing And Discontinued Operations
DerivativeLiabilityContinuingAndDiscontinuedOperations
9309000 USD
CY2021Q3 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
433000 USD
CY2021Q3 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2021Q3 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
8876000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
20444000 USD
CY2020Q4 us-gaap Derivative Liability Fair Value Gross Asset
DerivativeLiabilityFairValueGrossAsset
0 USD
CY2020Q4 cik0001567925 Derivative Liability Continuing And Discontinued Operations
DerivativeLiabilityContinuingAndDiscontinuedOperations
20444000 USD
CY2020Q4 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
0 USD
CY2020Q4 us-gaap Derivative Collateral Right To Reclaim Cash
DerivativeCollateralRightToReclaimCash
0 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
20444000 USD
CY2021Q3 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
0 legalProceeding

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