Investments in Non-Consolidated Entities (Tables)

3 Months Ended

Mar. 31, 2022

Noncontrolling Interest [Abstract]

Schedule of Investments in Non-consolidated Entities

Below is a schedule of the Company's investments in non-consolidated entities:

		Percentage Ownership at	Investment Balance as of
Investment		March 31, 2022	March 31, 2022		December 31, 2021
NNN MFG Cold JV L.P. ("MFG Cold JV")	(1)	20%	$	30,601	$	30,752
NNN Office JV L.P. ("NNN JV")	(2)	20%	24,051		24,112
Etna Park 70 LLC	(3)	90%	12,927		12,874
Etna Park East LLC	(4)	90%	2,112		2,797
BSH Lessee L.P.	(5)	25%	3,884		4,024
			$	73,575	$	74,559

(1)    MFG Cold JV is a joint venture formed in 2021 and owns special purpose industrial properties formerly owned by the Company.

(2)    NNN JV is a joint venture formed in 2018 and owns office properties formerly owned by the Company.

(3)    Joint venture formed in 2017 with a developer entity to acquire a parcel of land. The Company determined that it is not the primary beneficiary.

(4)    Joint venture formed in 2019 with a developer entity to acquire a parcel of land. The Company determined that it is not the primary beneficiary.

(5)    A joint venture investment, which owns a single-tenant, net-leased asset.

The following is a summary of the results of operations of NNN JV for the three months ended March 31, 2022 and 2021:

	Three months ended March 31,
	2022		2021
Total gross revenues	$	14,391	$	15,186
Depreciation expense	(7,958)		(9,685)
Property operating	(2,412)		(2,345)
General and administrative	(558)		(566)
Gain on sale	56,576		—
Interest expense	(2,532)		(2,981)
Income from continuing operations	57,507		(391)
Provision for income taxes	(250)		(26)
Net income	$	57,257	$	(417)