Real Estate (Tables)

9 Months Ended

Sep. 30, 2018

Real Estate [Abstract]

Classification of Investment Property Leases

The following outlines key information for NNN’s leases:

	September 30, 2018
Lease classification:
Operating	2,861
Direct financing	8
Building portion – direct financing/land portion – operating	1
Weighted average remaining lease term (years)	11.4

Summary of Real Estate Subject to Operating Leases

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

	September 30, 2018			December 31, 2017
Land and improvements(1)	$	2,322,981		$	2,289,004
Buildings and improvements	5,256,543			4,969,862
Leasehold interests	3,630			5,261
	7,583,154			7,264,127
Less accumulated depreciation and amortization	(978,553		)	(879,445		)
	6,604,601			6,384,682
Work in progress for buildings and improvements	19,564			41,920
	$	6,624,165		$	6,426,602

⁽¹⁾ Includes $10,023 and $25,799 in land for Properties under construction at September 30, 2018 and December 31,

2017, respectively.

Disclosure of Long Lived Assets Held-for-sale

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

	September 30, 2018			December 31, 2017
Land and improvements	$	2,520		$	3,326
Building and improvements	3,721			5,538
	6,241			8,864
Less accumulated depreciation and amortization	(1,317		)	(1,677		)
Less impairment	(1,615		)	(778		)
	$	3,309		$	6,409

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

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

	Quarter Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018				2017
	# of Sold Properties	Gain		# of Sold Properties	Gain		# of Sold Properties	Gain			# of Sold Properties	Gain
Gain on disposition of real estate	18	$	14,348	6	$	3,185	46	$	57,050	(1)	31	$	20,864
(1)   Amount includes the recognition of a deferred gain related to a leasehold interest that was fully amortized in 2018.

Real Estate Funding Commitments

These construction commitments, as of September 30, 2018, are outlined in the table below (dollars in thousands):

Total commitment(1)	$	48,881
Less amount funded	29,587
Remaining commitment	$	19,294
(1)   Includes land, construction costs, tenant improvements, lease costs and       capitalized interest.