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Real Estate - Portfolio (Tables)

12 Months Ended

Dec. 31, 2011

Classification Of Investment Property Leases

The following outlines key information for NNN’s leases at December 31, 2011:



Lease classification:
Operating	1,377
Direct financing	15
Building portion – direct financing / land portion – operating	5
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 December 31 (dollars in thousands):



	2011			2010
Land and improvements	$	1,314,157		$	1,117,915
Buildings and improvements	2,118,656			1,591,113
Leasehold interests	1,290			1,290
	3,434,103			2,710,318
Less accumulated depreciation and amortization	(270,094		)	(222,406		)
	3,164,009			2,487,912
Work in progress	60,014			26,390
	$	3,224,023		$	2,514,302

Remaining Funding Commitments

As of December 31, 2011, in connection with the development of Properties, NNN has the following funding commitments (dollars in thousands):



	# of Properties	Total Commitment⁽¹⁾		Amount Funded		Remaining Commitment
Real Estate Portfolio	54	$	158,725	$	103,614	$	55,111


⁽¹⁾	Includes land and construction costs.

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

The following is a schedule of future minimum lease payments to be received on noncancellable operating leases at December 31, 2011 (dollars in thousands):



2012	$	280,328
2013	273,762
2014	264,869
2015	257,821
2016	251,055
Thereafter	2,151,781
	$	3,479,616

Net Investment in Direct Financing Leases [Table Text Block]

The following lists the components of net investment in direct financing leases at December 31 (dollars in thousands):



	2011			2010
Minimum lease payments to be received	$	32,587		$	37,699
Estimated unguaranteed residual values	11,464			12,297
Less unearned income	(17,533		)	(20,223		)
Net investment in direct financing leases	$	26,518		$	29,773

Schedule of Future Minimum Lease Receivables for Direct Financing Leases [Table Text Block]

The following is a schedule of future minimum lease payments to be received on direct financing leases held for investment at December 31, 2011 (dollars in thousands):



2012	$	4,263
2013	4,213
2014	3,454
2015	3,160
2016	3,077
Thereafter	14,420
	$	32,587

The above table does not include future minimum lease payments for renewal periods, potential variable CPI rent increases or contingent rental payments that may become due in future periods (see Real Estate Portfolio – Accounted for Using the Operating Method).