Subsequent Events

9 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events:

NNN reviewed its subsequent events and transactions that have occurred after September 30, 2015, the date of the condensed consolidated balance sheet.

In October 2015, NNN closed on its public offering of $400,000,000 principal amount of 4.00% senior unsecured notes due November 15, 2025 (“2025 Notes”). The public offering price was 99.759% of the principal amount for a yield to maturity of 4.029%.  The 2025 Notes are senior unsecured obligations of the Company and are registered under the Company's existing shelf registration statement filed with the Securities and Exchange Commission. Additionally, in connection with this note issuance, NNN terminated the forward starting swaps with an aggregate notional amount of $300,000,000 that were hedging the risk of changes in forecasted interest payments on a forecasted issuance of long-term debt. When terminated, the fair value of the forward starting swaps, designated as cash flow hedges, was a liability of $13,369,000, which was deferred in other comprehensive income. The amount reported in accumulated other comprehensive income will be reclassified to interest expense as interest payments are made on the 2025 Notes.

There were no other reportable subsequent events or transactions.