Real Estate (Tables)

3 Months Ended

Mar. 31, 2014

Real Estate Investments, Net [Abstract]

Classification Of Investment Property Leases

The following outlines key information for NNN’s leases:

	March 31, 2014
Lease classification:
Operating	1,927
Direct financing	12
Building portion – direct financing / land portion – operating	1
Weighted average remaining lease term	12 Years

Summary Of Real Estate Subject To Operating Leases

Real estate subject to operating leases consisted of the following as of (dollars in thousands):

	March 31, 2014			December 31, 2013
Land and improvements	$	1,675,212		$	1,652,863
Buildings and improvements	3,055,023			2,962,684
Leasehold interests	1,290			1,290
	4,731,525			4,616,837
Less accumulated depreciation and amortization	(440,247		)	(416,594		)
	4,291,278			4,200,243
Work in progress	25,711			60,719
	$	4,316,989		$	4,260,962

Disclosure of Long Lived Assets Held-for-sale

Real estate held for sale consisted of the following as of (dollars in thousands):

	March 31, 2014			December 31, 2013
Land and improvements	$	5,337		$	5,999
Building and improvements	6,351			6,811
	11,688			12,810
Less accumulated depreciation and amortization	(1,550		)	(1,542		)
Less impairment	(3,918		)	(3,522		)
	$	6,220		$	7,746

Disclosure of Long Lived Assets Held-for-sale, Gains Recognized

The following table summarizes the number of Properties sold and the corresponding gain recognized on the disposition of Properties (dollars in thousands):

	Quarter Ended March 31,
	2014				2013
	# of Sold Properties	Gain			# of Sold Properties	Gain
Gain on disposition of real estate	2	$	1,954		—	$	—
Income tax expense		(198		)		—
		1,756				—
Gain on disposition of real estate included in discontinued operations	2	9			2	505
		$	1,765			$	505

Real Estate Funding Commitments

These construction commitments, as of March 31, 2014, are outlined in the table below (dollars in thousands):

Number of properties	28
Total commitment(1)	$	97,317
Amount funded	$	50,442
Remaining commitment	$	46,875

⁽¹⁾ Includes land, construction costs and tenant improvements.

Details of Impairment of Long-Lived Assets Held and Used by Asset

As a result of the Company's review of long lived assets, including identifiable intangible assets, NNN recognized the following real estate impairments (dollars in thousands):

	Quarter Ended March 31,
	2014		2013
Continuing operations	$	396	$	2,851
Discontinued operations	63		—
	$	459	$	2,851