Equity-based Compensation (As Restated) (Tables)

12 Months Ended

Dec. 31, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation, Activity

The following tables detail the restricted shares activity within the Equity Plan, Director Stock Plan and RSP Plans during the years ended December 31, 2013, 2012 and 2011:

Restricted Share Awards:


	Equity Plan					RSP Plans & Director Stock Plan
	Number of Restricted Common Shares			Weighted-Average Issue Price		Number of Restricted Common Shares			Weighted-Average Issue Price
Awarded, January 1, 2011		—		$	—		—		$	—
Granted		167,400			12.50		14,700			11.50

Awarded December 31, 2011		167,400			12.50		14,700			11.50
Granted		93,683			10.65		30,634			10.45
Forfeited		(1,174	)		10.65		(13,650	)		11.54

Awarded December 31, 2012		259,909			11.84		31,684			10.47
Granted		932,527			13.82		20,768			14.58
Forfeited		(1,085	)		12.85		(3,000	)		12.99

Awarded December 31, 2013		1,191,351		$	13.39		49,452		$	12.04

Unvested Restricted Share Awards:


	Equity Plan					RSP Plans & Director Stock Plan
	Number of Restricted Common Shares			Weighted-Average Issue Price		Number of Restricted Common Shares			Weighted-Average Issue Price
Unvested, January 1, 2011		—		$	—		—		$	—
Granted		167,400			12.50		14,700			11.50
Vested		(27,900	)		12.50		—			—

Unvested, December 31, 2011		139,500			12.50		14,700			11.50
Granted		93,683			10.65		30,634			10.45
Vested		(59,556	)		12.38		(2,370	)		11.88
Forfeited		(1,174	)		10.65		(13,650	)		11.54

Unvested, December 31, 2012		172,453			11.55		29,314			10.35
Granted		932,527			13.82		20,768			14.58
Vested		(172,453	)		11.55		(28,207	)		11.03
Forfeited		(1,085	)		12.85		(3,000	)		12.99

Unvested, December 31, 2013		931,442		$	13.82		18,875		$	13.52

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Performance Schedule

New Multi-Year Outperformance Plan

On October 3, 2013, the Company approved a multi-year outperformance plan (the “New OPP”), to be effective as of the Company’s transition to self-management, which occurred on January 8, 2014. Under the New OPP, individual agreements will be entered into between the Company and the participants selected by the Company’s board of directors (the “Participants”) that set forth the Participant’s participation percentage in the New OPP and the number of LTIP Units subject to the award (“OPP Agreements”). Under the OPP Agreements, the Participants will be eligible to earn performance-based bonus awards equal to the Participant’s participation percentage of a pool that will be funded up to a maximum award opportunity (the “New OPP Cap”) equal to approximately 5% of the Company’s equity market capitalization (“the Initial Market Cap”) on October 1, 2013. Subject to the New OPP Cap, the pool will equal an amount to be determined based on the Company’s achievement of total return to stockholders, including both share price appreciation and common stock distributions (“Total Return”), for a three-year performance period (the “Performance Period”); each 12-month period during the Performance Period (each an “Annual Period”) and the initial 24-month period of the Performance Period (the “Interim Period”), as follows:


		Performance Period	Annual Period	Interim Period
Absolute Component: 4% of any excess Total Return attained above an absolute hurdle measured from the beginning of such period:		21%	7%	14%
Relative Component: 4% of any excess Total Return attained above the median Total Return for the performance period of the Peer Group ⁽¹⁾, subject to a ratable sliding scale factor as follows based on achievement of cumulative Total Return measured from the beginning of such period:
Ÿ	100% will be earned if cumulative Total Return achieved is at least:	18%	6%	12%
Ÿ	50% will be earned if a cumulative Total Return achieved is:	— %	— %	— %
Ÿ	0% will be earned if cumulative Total Return achieved is less than:	— %	— %	— %
Ÿ	a percentage from 50% to 100% calculated by linear interpolation will be earned if cumulative Total Return achieved is if between:	0% - 18%	0% - 6%	0% - 12%

(1)	The “Peer Group” is comprised of the following companies: EPR Properties; Getty Realty Corporation; Lexington Realty Trust; National Retail Properties, Inc.; Realty Income Corporation; and Spirit Realty Capital, Inc.