Investments in Real Estate - Schedule of Acquisitions (Details) $ in Thousands, £ in Millions |
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2020
USD ($)
ft²
property
state
|
Dec. 31, 2020
GBP (£)
ft²
property
state
|
Dec. 31, 2019
USD ($)
ft²
property
state
|
Dec. 31, 2019
GBP (£)
ft²
property
state
|
|
Real Estate [Line Items] | ||||
Number of properties | property | 244 | 244 | 789 | 789 |
Leasable square feet (sq ft) | ft² | 9,197,360 | 9,197,360 | 13,736,272 | 13,736,272 |
Investment | $ | $ 2,307,281 | $ 3,715,237 | ||
Weighted average lease term (years) | 13 years 2 months 12 days | 13 years 2 months 12 days | 13 years 6 months | 13 years 6 months |
Initial average cash lease yield (percent) | 5.90% | 5.90% | 6.40% | 6.40% |
New properties | ||||
Real Estate [Line Items] | ||||
Number of properties, new | property | 226 | 226 | 771 | 771 |
Leasable square feet (sq ft) | ft² | 7,596,265 | 7,596,265 | 13,214,099 | 13,214,099 |
Investment | $ | $ 2,223,154 | $ 3,658,652 | ||
Weighted average lease term (years) | 13 years 2 months 12 days | 13 years 2 months 12 days | 13 years 4 months 24 days | 13 years 4 months 24 days |
Initial average cash lease yield (percent) | 5.90% | 5.90% | 6.40% | 6.40% |
New properties | U.S. | ||||
Real Estate [Line Items] | ||||
Number of properties, new | property | 202 | 202 | 753 | 753 |
Number of states | state | 30 | 30 | 45 | 45 |
Leasable square feet (sq ft) | ft² | 5,476,009 | 5,476,009 | 11,630,423 | 11,630,423 |
Investment | $ | $ 1,302,220 | $ 2,860,806 | ||
Weighted average lease term (years) | 14 years 10 months 24 days | 14 years 10 months 24 days | 13 years | 13 years |
Initial average cash lease yield (percent) | 5.80% | 5.80% | 6.80% | 6.80% |
New properties | U.K. | ||||
Real Estate [Line Items] | ||||
Number of properties, new | property | 24 | 24 | 18 | 18 |
Leasable square feet (sq ft) | ft² | 2,120,256 | 2,120,256 | 1,583,676 | 1,583,676 |
Investment | $ 920,934 | £ 707.8 | $ 797,846 | £ 625.8 |
Weighted average lease term (years) | 10 years 9 months 18 days | 10 years 9 months 18 days | 15 years 7 months 6 days | 15 years 7 months 6 days |
Initial average cash lease yield (percent) | 6.10% | 6.10% | 5.20% | 5.20% |
Properties under development | U.S. | ||||
Real Estate [Line Items] | ||||
Number of properties, under development | property | 18 | 18 | 18 | 18 |
Leasable square feet (sq ft) | ft² | 1,601,095 | 1,601,095 | 522,173 | 522,173 |
Investment | $ | $ 84,127 | $ 56,585 | ||
Weighted average lease term (years) | 15 years 3 months 18 days | 15 years 3 months 18 days | 15 years 1 month 6 days | 15 years 1 month 6 days |
Initial average cash lease yield (percent) | 5.60% | 5.60% | 7.30% | 7.30% |