Investments in Real Estate (Tables)

3 Months Ended

Mar. 31, 2021

Real Estate [Abstract]

Schedule of Acquired Properties

The Company completed the following acquisition and development transactions during the three months ended March 31, 2021:

Property Type	Market	Acquisition/Completion Date	Initial Cost Basis		Primary Lease Expiration	Land		Building and Improvements		Lease in-place Value Intangible		Above (Below-) Market Lease Intangible, net
Industrial	Indianapolis, IN	January 2021	$	14,310	12/2024	$	1,208	$	12,052	$	1,035	$	15
Industrial	Indianapolis, IN	January 2021	14,120		8/2025	1,162		11,825		1,133		—
Industrial	Central Florida	January 2021	22,358		5/2031	1,416		19,910		1,032		—
Industrial	Columbus, OH	March 2021(1)	18,435		03/2024	2,800		15,635		—		—
			$	69,223		$	6,586	$	59,422	$	3,200	$	15

(1)    As of March 31, 2021, development project was substantially completed.

Schedule of Real Estate Properties Development

As of March 31, 2021, the details of the on-going real estate under construction are as follows (in $000's, except square feet):

Project (% owned)	Market	Property Type	Estimated Sq. Ft.	Estimated Project Cost		GAAP Investment Balance as of 3/31/2021		Amount Funded as of 3/31/2021		Estimated Completion Date	% Leased as of 3/31/2021		Approximate Lease Term (Years)
Fairburn (87%)(1)	Atlanta, GA	Industrial	910,000	$	53,812	$	45,322	$	40,376	2Q 2021	—	%	TBD
KeHE Distributors, BTS (100%)	Phoenix, AZ	Industrial	468,182	72,000		31,165		26,301		3Q 2021	100	%	15
Ocala (80%)(1)	Central Florida	Industrial	1,085,280	80,900		11,887		7,682		1Q 2022	—	%	TBD
				$	206,712	$	88,374	$	74,359

(1) Estimated project costs exclude developer partner promote.