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Line of Credit Payable
6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Line of Credit Payable Line of Credit Payable:NNN's $900,000,000 unsecured revolving credit facility (as amended by the 2020 Amendment (as defined below), the "Credit Facility") had a weighted average outstanding balance of $37,998,000 and a weighted average interest rate of 2.5% during the six months ended June 30, 2020. The Credit Facility matures January 2022, unless the Company exercises its option to extend maturity to January 2023. The Credit Facility bears interest at LIBOR plus 87.5 basis points; however, such interest rate may change pursuant to a tiered interest rate structure based on NNN's debt rating. The Credit Facility also includes an accordion feature which permits NNN to increase the facility size up to $1,600,000,000, subject to lender approval. In May 2020, NNN amended its Credit Facility to include the addition of new terms and definitions, and to restate certain other definitions under the former unsecured revolving credit agreement, some of which modified the financial covenant calculations ("2020 Amendment"). As of June 30, 2020, there was no outstanding balance and $900,000,000 was available for future borrowings under the Credit Facility, and NNN was in compliance with each of the financial covenants.