Subsequent Events

9 Months Ended

Sep. 30, 2019

16. SUBSEQUENT EVENTS

Distributions—Distributions paid to stockholders and OP unit holders of record subsequent to September 30, 2019, were as follows (in thousands, except distribution rate):



Month	Date of Record	Distribution Rate	Date Distribution Paid	Gross Amount of Distribution Paid		Distribution Reinvested through the DRIP		Net Cash Distribution
September 2019	9/16/2019	$0.05583344	10/1/2019	$	18,091	$	5,366	$	12,725
October 2019	10/15/2019	$0.05583344	11/1/2019	18,108		5,343		12,765

In November 2019, our Board authorized distributions for December 2019, as well as January and February 2020 to the stockholders of record at the close of business on December 16, 2019, January 15, 2020, and February 17, 2020, respectively, equal to a monthly amount of $0.05583344 per share of common stock. The distributions for November 2019 were previously authorized by our Board and are expected to be paid on December 2, 2019. OP unit holders will receive distributions at the same rate as common stockholders. We pay distributions to stockholders and OP unit holders based on monthly record dates. We expect to pay these distributions on the first business day after the end of each month.

Property Sales—Subsequent to September 30, 2019, we sold the following real estate properties, which were classified as held for sale as of September 30, 2019 (dollars in thousands):

Property Name

Location

Anchor Tenant

Square Footage

Disposition Date

Sale Price

Promenade Shopping Center

Jacksonville, FL

Rowe's IGA

115,835

10/15/2019

11,950

Countryside Shopping Center

Port Orange, FL

Big Lots

124,268

11/1/2019

11,800