Real Estate (Tables)

6 Months Ended

Jun. 30, 2014

Real Estate Investments, Net [Abstract]

Classification Of Investment Property Leases

The following outlines key information for NNN’s leases:

	June 30, 2014
Lease classification:
Operating	1,957
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):

	June 30, 2014			December 31, 2013
Land and improvements	$	1,686,301		$	1,651,579
Buildings and improvements	3,106,933			2,958,525
Leasehold interests	1,290			1,290
	4,794,524			4,611,394
Less accumulated depreciation and amortization	(462,249		)	(415,518		)
	4,332,275			4,195,876
Work in progress	36,200			60,719
	$	4,368,475		$	4,256,595

Disclosure of Long Lived Assets Held-for-sale

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

	June 30, 2014			December 31, 2013
Land and improvements	$	4,339		$	6,475
Building and improvements	6,673			10,422
	11,012			16,897
Less accumulated depreciation and amortization	(1,758		)	(2,617		)
Less impairment	(1,024		)	(2,167		)
	$	8,230		$	12,113

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 June 30,								Six Months Ended June 30,
	2014				2013				2014				2013
	# of Sold Properties	Gain			# of Sold Properties	Gain			# of Sold Properties	Gain			# of Sold Properties	Gain
Gain on disposition of real estate	10	$	3,054		—	$	—		12	$	5,008		—	$	—
Income tax expense		—				—				(198		)		—
		3,054				—				4,810				—
Gain on disposition of real estate included in discontinued operations	—	3		(1)	7	2,669			2	12			9	3,174
Income tax expense		—				(366		)		—				(366		)
		$	3,057			$	2,303			$	4,822			$	2,808

Real Estate Funding Commitments

These construction commitments, as of June 30, 2014, are outlined in the table below (dollars in thousands):

Number of properties	28
Total commitment(1)	$	100,199
Amount funded	$	62,481
Remaining commitment	$	37,718

⁽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 June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Continuing operations	$	89	$	249	$	485	$	3,100
Discontinued operations	—		904		63		904
	$	89	$	1,153	$	548	$	4,004