Property Acquisitions (Tables)

6 Months Ended

Jun. 30, 2023

Business Combinations [Abstract]

Purchase price allocation

During the six months ended June 30, 2023, we acquired fee simple interests in 16 properties for an aggregate purchase price of $73,260,000 as follows (in thousands):

					Purchase Price Allocation
Asset Type	Properties		Purchase Price		Land		Buildings & Improve- ments		In-Place Leases		Above Market Leases/Prepaid Rent Receivable		Below Market Leases/Prepaid Rent Liability
Car wash properties		14	$	64,248	$	18,598	$	39,623	$	6,584	$	—	$	(557	)
Convenience stores (a)		1		6,336		2,405		3,319		612		—		—
Drive thru QSRs		1		2,676		675		1,713		288		—		—
		16	$	73,260	$	21,678	$	44,655	$	7,484	$	—	$	(557	)

(a)Purchase price and land allocation include $913,000 related to the acquisition of a land parcel adjacent to an existing site which was subsequently combined with the existing site into a single property upon redevelopment of the existing site.

During the six months ended June 30, 2022, we acquired fee simple interests in 14 properties for an aggregate purchase price of $54,197,000 as follows (in thousands):

					Purchase Price Allocation
Asset Type	Properties		Purchase Price		Land		Buildings & Improve- ments		In-Place Leases		Above Market Leases		Below Market Leases
Car wash properties		11	$	46,026	$	7,578	$	35,298	$	3,765	$	403	$	(1,018	)
Convenience stores		3	$	8,171	$	5,136	$	2,363	$	672		—		—
		14	$	54,197	$	12,714	$	37,661	$	4,437	$	403	$	(1,018	)