Real Estate Investments, Net (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Allocation of Assets Acquired and Liabilities Assumed

The following table presents the allocation of the assets acquired and liabilities assumed during the six months ended June 30, 2023, and, in the case of assets located outside of the United States, based on the applicable exchange rate at the time of purchase. All acquisitions were considered asset acquisitions for accounting purposes.


	Six Months Ended June 30,
(Dollar amounts in thousands)	2023		2022
Real estate investments, at cost:
Land	$	4,757	$	4,176
Buildings, fixtures and improvements	30,087		25,938
Total tangible assets	34,844		30,114
Intangibles acquired:
In-place leases	4,128		4,010
Above-market lease assets	40,964		—
Below-market lease liabilities	—		(230)
Total Intangible assets and liabilities	45,092		3,780
Right-of -use asset	1,426		—

Cash paid for acquired real estate investments	81,362		33,894
Number of properties purchased	$	8	$	3

Schedule of Acquisitions by Property Type

The following table summarizes the acquisitions by property type during the six months ended June 30, 2023:


Property Type	Number of Properties	Square Feet (unaudited)
Properties Acquired in 2023:
Office	—	—
Industrial	—	—
Distribution	—	—
Retail	8	323,730
	8	323,730
Properties Acquired in 2022:
Office	1	66,626
Industrial	2	232,600
Distribution	—	—
Retail	—	—
	3	299,226

Schedule of Properties with Significant Annualized Straight-line Rental Income, by Geographical Areas

The following table lists the countries and states where the Company has concentrations of properties where annualized rental income on a straight-line basis represented greater than 10.0% of consolidated annualized rental income on a straight-line basis as of June 30, 2023 and December 31, 2022.


Country / U.S. State	June 30, 2023	December 31, 2022
United States	59.5%	63.9%
Michigan	14.3%	15.5%
United Kingdom	22.3%	17.4%