Audit Information |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Audit Information [Abstract] | |
| Auditor Firm ID | 185 |
| Auditor Name | KPMG LLP |
| Auditor Location | San Francisco, California |
| Auditor Opinion [Text Block] | Opinion on the Consolidated Financial Statements We have audited the accompanying consolidated balance sheets of Four Corners Property Trust, Inc. and subsidiaries (the Company) as of December 31, 2024 and 2023, the related consolidated statements of income, comprehensive income, changes in equity, and cash flows for each of the years in the three-year period ended December 31, 2024, and the related notes and financial statement schedule III - schedule of real estate assets and accumulated depreciation (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the years in the three-year period ended December 31, 2024, in conformity with U.S. generally accepted accounting principles. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission, and our report dated February 13, 2025 expressed an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting. |
CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Statement of Financial Position [Abstract] | ||
| Preferred stock, par value (in usd per share) | $ 0.0001 | $ 0.0001 |
| Preferred stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
| Preferred stock, shares issued (in shares) | 0 | 0 |
| Preferred stock, shares outstanding (in shares) | 0 | 0 |
| Common stock, par value (in usd per share) | $ 0.0001 | $ 0.0001 |
| Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
| Common stock, shares issued (in shares) | 99,825,119 | 91,617,477 |
| Common stock, shares outstanding (in shares) | 99,825,119 | 91,617,477 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Statement of Comprehensive Income [Abstract] | |||
| Net Income | $ 100,595 | $ 95,462 | $ 97,908 |
| Other comprehensive income (loss): | |||
| Effective portion of change in fair value of derivative instruments | 14,306 | 1,795 | 39,396 |
| Reclassification adjustment of derivative instruments included in net income | (12,648) | (10,773) | 1,430 |
| Other comprehensive income (loss) | 1,658 | (8,978) | 40,826 |
| Comprehensive income | 102,253 | 86,484 | 138,734 |
| Less: comprehensive income attributable to noncontrolling interest | |||
| Net income attributable to noncontrolling interest | 122 | 122 | 136 |
| Other comprehensive income (loss) attributable to noncontrolling interest | 2 | (11) | 58 |
| Comprehensive income attributable to noncontrolling interest | 124 | 111 | 194 |
| Comprehensive Income Attributable to Common Shareholders | $ 102,129 | $ 86,373 | $ 138,540 |
Pay vs Performance Disclosure - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Pay vs Performance Disclosure | |||
| Net Income (Loss) | $ 100,473 | $ 95,340 | $ 97,772 |
Insider Trading Arrangements |
3 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Cybersecurity Risk Management,Strategy and Governance |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | Item 1C. Cybersecurity. Cybersecurity Risk Management and Strategy We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. We design and assess our program based on the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF). This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the NIST CSF as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. Key elements of our cybersecurity risk management program include but are not limited to the following: • risk assessments designed to help identify material cybersecurity risks to our critical systems and information; • a security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents; • the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security processes; • cybersecurity awareness training of our employees, incident response personnel, and senior management; • a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and • a third-party risk management process for service providers and vendors based on their criticality and risk profile. There can be no assurance that our cybersecurity risk management program and processes, including our policies, controls or procedures, will be fully implemented, complied with or effective in protecting our systems and information. We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, including our operations, business strategy, results of operations, or financial condition. We face certain ongoing risks from cybersecurity risks that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. See “Risk Factors - We may be vulnerable to security breaches or cyber-attacks which could disrupt our operations and have a material adverse effect on our financial performance and operating results.” Cybersecurity Governance Our Board considers cybersecurity risk as part of its risk oversight function and has delegated to the Audit and Risk Committee (the "Committee") oversight of cybersecurity and other information technology risks. The Committee oversees management’s implementation of our cybersecurity risk management program. The Committee receives quarterly reports from management on our cybersecurity risks. In addition, management updates the Committee, as necessary, regarding any significant cybersecurity incidents. The Committee reports to the full Board regarding its activities, including those related to cybersecurity. The full Board also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from our Chief Accounting Officer. Our management team, including our Chief Accounting Officer, is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our management team’s experience includes over ten years of overseeing IT risk management and compliance, day-to-day IT operations, and coordinating with external IT security experts. Our Chief Accounting Officer also works in tandem with an external cybersecurity consultant that has experience in cybersecurity assessment, response, and mitigation. Our management team stays informed about and monitors efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel, threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us, and alerts and reports produced by security tools deployed in the IT environment. |
| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | We have developed and implemented a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. We design and assess our program based on the National Institute of Standards and Technology Cybersecurity Framework (NIST CSF). This does not imply that we meet any particular technical standards, specifications, or requirements, only that we use the NIST CSF as a guide to help us identify, assess, and manage cybersecurity risks relevant to our business. Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Text Block] | We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, including our operations, business strategy, results of operations, or financial condition. |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | Our management team, including our Chief Accounting Officer, is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our management team’s experience includes over ten years of overseeing IT risk management and compliance, day-to-day IT operations, and coordinating with external IT security experts. Our Chief Accounting Officer also works in tandem with an external cybersecurity consultant that has experience in cybersecurity assessment, response, and mitigation. |
| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | Our management team, including our Chief Accounting Officer, is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our management team’s experience includes over ten years of overseeing IT risk management and compliance, day-to-day IT operations, and coordinating with external IT security experts. |
ORGANIZATION |
12 Months Ended |
|---|---|
Dec. 31, 2024 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| ORGANIZATION | NOTE 1 – ORGANIZATION Four Corners Property Trust, Inc. (together with its subsidiaries, “FCPT”) is an independent, publicly traded, self-administered company, primarily engaged in the ownership, acquisition and leasing of restaurant properties. Substantially all of our business is conducted through Four Corners Operating Partnership, LP (“FCPT OP”), a Delaware limited partnership of which we are the initial and substantial limited partner. Our wholly owned subsidiary, Four Corners GP, LLC (“FCPT GP”), is its sole general partner. Any references to “the Company,” “we,” “us,” or “our,” refer to FCPT as an independent, publicly traded, self- administered company. FCPT was incorporated as a Maryland corporation on July 2, 2015 as a wholly owned indirect subsidiary of Darden Restaurants, Inc., (together with its consolidated subsidiaries “Darden”), for the purpose of owning, acquiring and leasing properties on a triple-net basis, for use in the restaurant and related food service industries. On November 9, 2015, Darden completed a spin-off of FCPT whereby Darden contributed to us 100% of the equity interest in entities that own 418 properties in which Darden operates restaurants, representing five of their brands, and six LongHorn Steakhouse restaurants located in the San Antonio, Texas area (the “Kerrow Restaurant Operating Business”) along with the underlying properties or interests therein associated with the Kerrow Restaurant Operating Business. In exchange, we issued to Darden all of our common stock and paid to Darden $315.0 million in cash. Subsequently, Darden distributed all of our outstanding shares of common stock pro-rata to holders of Darden common stock whereby each Darden shareholder received share of our common stock for every three shares of Darden common stock held at the close of business on the record date, which was November 2, 2015, as well as cash in lieu of any fractional shares of our common stock which they would have otherwise received. We believe that we have been organized and have operated in conformity with the requirements for qualification and taxation as a real estate investment trust (a “REIT”) for U.S. federal income tax purposes commencing with our taxable year ended December 31, 2016, and we intend to continue to operate in a manner that will enable us to maintain our qualification as a REIT. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement that we distribute at least 90% of our adjusted taxable income to our shareholders, subject to certain adjustments and excluding any net capital gain. As a REIT, we will not be subject to federal corporate income tax on that portion of net income that is distributed to our shareholders. However, FCPT’s taxable REIT subsidiaries (“TRS”) will generally be subject to federal, state, and local income taxes. We made our REIT election upon the filing of our 2016 tax return. |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements (“the Consolidated Financial Statements”) include the accounts of Four Corners Property Trust, Inc. and its consolidated subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Consolidated Financial Statements reflect all adjustments which are, in the opinion of management, necessary to a fair presentation of the results for the interim periods presented. These adjustments are considered to be of a normal, recurring nature. Segment Reporting The Company has two operating segments, real estate operations and restaurant operations. The Company has identified its real estate operations and restaurant operations as separate reportable segments based on the nature of the operations and its organizational and management structure, which aligns with how results are monitored and performance is assessed. This is consistent with how the Company’s chief operating decision maker, which is its Chief Executive Officer, makes decisions when assessing the financial performance of the Company’s portfolio of properties and restaurant operations. Use of Estimates The preparation of these Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of sales and expenses during the reporting period. The estimates and assumptions used in the accompanying Consolidated Financial Statements are based on management’s evaluation of the relevant facts and circumstances. Actual results may differ from the estimates and assumptions used in preparing the accompanying Consolidated Financial Statements, and such differences could be material. Real Estate Investments, Net Real estate investments, net are recorded at cost less accumulated depreciation. Building components are depreciated over estimated useful lives ranging from to fifty-five years using the straight-line method. Leasehold improvements, which are reflected on our Consolidated Balance Sheets as a component of buildings, equipment, and improvements, net, are amortized over the lesser of the non-cancelable lease term or the estimated useful lives of the related assets using the straight-line method. Equipment is depreciated over estimated useful lives ranging from to fifteen years also using the straight-line method. Real estate development and construction costs for newly constructed restaurants are capitalized in the period in which they are incurred. Gains and losses on the disposal of land, buildings and equipment are included in realized gain on sale, net in our accompanying Consolidated Statements of Income (“Income Statements”). Our accounting policies regarding land, buildings, equipment, and improvements, include our judgments regarding the estimated useful lives of these assets, the residual values to which the assets are depreciated or amortized, the determination of what constitutes a reasonably assured lease term, and the determination as to what constitutes enhancing the value of or increasing the life of existing assets. These judgments and estimates may produce materially different amounts of reported depreciation and amortization expense if different assumptions were used. As discussed further below, these judgments may also impact our need to recognize an impairment charge on the carrying amount of these assets as the cash flows associated with the assets are realized, or as our expectations of estimated future cash flows change. Acquisition of Real Estate The Company evaluates acquisitions to determine whether transactions should be accounted for as asset acquisitions or business combinations in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2017-01. The Company has determined the land, building, site improvements, and in-places leases (if any) of assets acquired were each single assets as the building and property improvements are attached to the land and cannot be physically removed and used separately from the land without incurring significant costs or reducing their fair value. Additionally, the Company has not acquired a substantive process used to generate outputs. As substantially all of the fair value of the gross assets acquired are concentrated in a single identifiable asset and there were no processes acquired, the acquisitions do not qualify as businesses and are accounted for as asset acquisitions. Related transaction costs are generally capitalized and amortized over the useful lives of the acquired assets. The Company allocates the purchase price (including acquisition and closing costs) of real estate acquisitions to land, building, and improvements based on their relative fair values. The determination of the building fair value is on an ‘as-if- vacant’ basis. Value is allocated to acquired lease intangibles (if any) based on the costs avoided and revenue recognized by acquiring the property subject to lease and avoiding an otherwise ‘dark period’. In making estimates of fair values for this purpose, the Company uses a third-party specialist that obtains various information about each property, as well as the pre- acquisition due diligence of the Company and prior leasing activities at the site. Lease Intangibles Lease intangibles, if any, acquired in conjunction with the purchase of real estate represent the value of in-place leases and above- or below-market leases. For real estate acquired subject to existing lease agreements, acquired lease intangibles are valued based on the Company’s estimates of costs related to tenant acquisition and the asset carrying costs, including lost revenue, that would be incurred during the time it would take to locate a tenant if the property were vacant, considering current market conditions and costs to execute similar leases at the time of the acquisition. Above-market and below-market lease intangibles are recorded based on the present value of the difference between the contractual amounts to be paid pursuant to the leases at the time of acquisition of the real estate and the Company’s estimate of current market lease rates for the property, measured over a period equal to the remaining initial term of the lease. In-place lease intangibles are amortized on a straight-line basis over the remaining initial term of the related lease and included in depreciation and amortization expense. Above-market lease intangibles are amortized over the remaining initial terms of the respective leases as a decrease in rental revenue. Below-market lease intangibles are generally amortized as an increase to rental revenue over the remaining initial term of the respective leases, but may be amortized over the renewal periods if the Company believes it is likely the tenant will exercise the renewal option. Should a lease terminate early, the unamortized portion of any related lease intangible is immediately recognized as an impairment loss included in depreciation and amortization expense. To date, the Company has not had significant early terminations. Finance ground lease assets are also included in intangible real estate assets, net on the Consolidated Balance Sheets. See Leases below for additional information. Impairment of Long-Lived Assets Land, buildings and equipment and certain other assets, including definite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Such events and changes may include macroeconomic conditions which may result in property operational disruption and indicate that the carrying amount may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future undiscounted net cash flows expected to be generated by the assets. Identifiable cash flows are measured at the lowest level for which they are largely independent of the cash flows of other groups of assets and liabilities, generally at the restaurant level. If these assets are determined to be impaired, the amount of impairment recognized is measured by the amount by which the carrying amount of the assets exceeds their fair value. Fair value is generally determined by appraisals or sales prices of comparable assets. The judgments we make related to the expected useful lives of long-lived assets and our ability to realize undiscounted cash flows in excess of the carrying amounts of these assets are affected by factors such as the ongoing maintenance and improvements of the assets, changes in economic conditions, changes in usage or operating performance, desirability of the restaurant sites and other factors, such as our ability to sell our assets held for sale. As we assess the ongoing expected cash flows and carrying amounts of our long-lived assets, significant adverse changes in these factors could cause us to realize a material impairment loss. Exit or disposal activities include the cost of disposing of the assets and are generally expensed as incurred. Upon disposal of the assets, any gain or loss is recorded in the same caption within our Consolidated Income Statements as the original impairment. Provisions for impairment are included in depreciation and amortization expense in the accompanying Consolidated Income Statements. During the years ended December 31, 2024, 2023, and 2022 we did not record provisions for impairment. Real Estate Held for Sale Real estate is classified as held for sale when the sale is probable, will be completed within one year, purchase agreements are executed, the buyer has a significant deposit at risk, and no financing contingencies exist which could prevent the transaction from being completed in a timely manner. Restaurant sites and certain other assets to be disposed of are included in assets held for sale when the likelihood of disposing of these assets within one year is probable. Assets whose disposal is not probable within one year remain in land, buildings, equipment and improvements until their disposal within one year is probable. Disposals of assets that have a major effect on our operations and financial results or that represent a strategic shift in our operating businesses meet the requirements to be reported as discontinued operations. Real estate held for sale is reported at the lower of carrying amount or fair value, less estimated costs to sell. No properties were held for sale at December 31, 2024 or 2023. Cash, Cash Equivalents, and Restricted Cash We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents can consist of cash and money market accounts. Restricted cash consists of 1031 exchange proceeds and is included in Other assets on our Consolidated Balance Sheets. The following table provides a reconciliation of cash, cash equivalents, and restricted cash in our Consolidated Balance Sheets to the total amount shown in our Consolidated Statements of Cash Flows.
Debt The Company’s debt consists of non-amortizing term loans, a revolving credit facility and senior, unsecured, fixed rate notes (collectively referred to as “Debt”). Debt is carried at unpaid principal balance, net of deferred financing costs. All of our debt is currently unsecured and interest is paid monthly on our non-amortizing term loans and revolving credit facility and semi-annually on our senior unsecured fixed rate notes. Deferred Financing Costs Financing costs related to debt are deferred and amortized over the remaining life of the debt using the effective interest method. These costs are presented as a direct deduction from their related liabilities on the Consolidated Balance Sheets. See Note 6 - Debt, Net of Deferred Financing Costs for additional information. Derivative Instruments and Hedging Activities We enter into derivative instruments for risk management purposes only, including derivatives designated as hedging instruments as required by FASB ASC Topic 815, Derivatives and Hedging, and those utilized as economic hedges. Our use of derivative instruments is currently limited to interest rate hedges. These instruments are generally structured as hedges of the variability of cash flows related to forecasted transactions (cash flow hedges). We do not enter into derivative instruments for trading or speculative purposes, where changes in the cash flows of the derivative are not expected to offset changes in cash flows of the hedged item. All derivatives are recognized on the balance sheet at fair value. For those derivative instruments for which we intend to elect hedge accounting, at the time the derivative contract is entered into, we document all relationships between hedging instruments and hedged items, as well as our risk-management objective and strategy for undertaking the various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the Consolidated Balance Sheets or to specific forecasted transactions. We also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivatives used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. To the extent our derivatives are effective in offsetting the variability of the hedged cash flows, and otherwise meet the cash flow hedge accounting criteria in accordance with GAAP, changes in the derivatives’ fair value are not included in current earnings but are included in accumulated other comprehensive income (loss), net of tax. These changes in fair value will be reclassified into earnings at the time of the forecasted transaction. Ineffectiveness measured in the hedging relationship is recorded in earnings in the period in which it occurs. See Note 7 - Derivative Financial Instruments for additional information. Other Assets and Liabilities Other assets primarily consist of right of use operating lease assets, pre-acquisition costs, prepaid assets, food and beverage inventories for use by our Kerrow operating subsidiary, escrow deposits, and accounts receivable. Other liabilities primarily consist of accrued compensation, accrued interest, accrued operating expenses, intangible real estate liabilities, and operating lease liabilities. See Note 8 - Supplemental detail for certain components of the Consolidated Balance Sheets Leases All significant lease arrangements are generally recognized at lease commencement. For leases where the Company is the lessee, operating or finance lease right-of-use (“ROU”) assets and lease liabilities are recognized at commencement based on the present value of lease payments over the lease term. ROU assets represent our right to use an underlying asset during the reasonably certain lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term. As part of certain real estate investment transactions, the Company may enter into long-term ground leases as a lessee. The Company recognizes a ground lease (or right-of-use) asset and related lease liability for each of these ground leases. Ground lease assets and lease liabilities are recognized based on the present value of the lease payments. The Company uses its estimated incremental borrowing rate, which is the estimated rate at which the Company could borrow on a collateralized basis with similar payments over a similar term, in determining the present value of the lease payments. For leases where Company is the lessor, we determine the classification upon commencement. At December 31, 2024, all such leases are classified as operating leases. These operating leases may contain both lease and non-lease components. The Company accounts for lease and non-lease components as a single component. The Company expenses certain initial direct costs that are not incremental in obtaining a lease. See Note 5 - Leases for additional information. Revenue Recognition Rental revenue For those net leases that provide for periodic and determinable increases in base rent, base rental revenue is recognized on a straight-line basis over the applicable lease term when collectability is reasonably assured. Recognizing rental income on a straight-line basis generally results in recognized revenues during the first half of a lease term exceeding the cash amounts contractually due from our tenants, creating a deferred rent receivable. In certain circumstances, the Company may offer tenant allowance funds in exchange for increasing rent, extending the term, and including annual sales reporting among other items. These tenant allowance funds are classified as lease incentives upon payment and are amortized as a reduction to revenue over the lease term. Lease incentives are included in Intangible real estate assets, net, on our Consolidated Balance Sheets. During the years ended December 31, 2024 and 2023, the Company paid lease incentives of $1.6 million and $1.2 million, respectively, to tenants. We assess the collectability of our lease receivables, including deferred rents receivable, on several factors, including payment history, the financial strength of the tenant and any guarantors, historical operations and operating trends of the property, and current economic conditions. If our evaluation of these factors indicates it is not probable that we will be able to recover substantially all of the receivable, we derecognize the deferred rent receivable asset and record that amount as a reduction in rental revenue. If we determine the lease receivable will not be collected due to a credit concern, we reduce the recorded revenue for the period and related accounts receivable. For those leases that provide for periodic increases in base rent only if certain revenue parameters or other substantive contingencies are met, the increased rental revenue is recognized as the related parameters or contingencies are met, rather than on a straight-line basis over the applicable lease term. Costs paid by the lessor and reimbursed by the lessees are included in variable lease payments and presented on a gross basis within rental revenue. Sales taxes collected from lessees and remitted to governmental authorities are presented on a net basis within rental revenue. Restaurant revenue Restaurant revenue represents food, beverage, and other products sold and is presented net of the following discounts: coupons, employee meals, and complimentary meals. Revenue from restaurant sales, whether received in cash or by credit card, is recognized when food and beverage products are sold. At December 31, 2024 and 2023, credit card receivables, included in other assets, totaled $239 thousand and $293 thousand, respectively. We recognize sales from our gift cards when the gift card is redeemed by the customer. Sales taxes collected from customers and remitted to governmental authorities are presented on a net basis within restaurant revenue on our Income Statements. Restaurant Expenses Restaurant expenses include restaurant labor, general and administrative expenses, and food and beverage costs. Food and beverage costs include inventory, warehousing, related purchasing and distribution costs. Vendor allowances received in connection with the purchase of a vendor’s products are recognized as a reduction of the related food and beverage costs as earned. Gain on Sale, Net The Company recognizes gain (loss) on sale, net of real estate in accordance with FASB ASU No. 2017-05, “Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets.” The Company evaluates each transaction to determine if control of the asset, as well as other specified criteria, has been transferred to the buyer to determine proper timing of revenue recognition, as well as transaction price allocation. Earnings Per Share Basic earnings per share (“EPS”) are computed by dividing net income allocated to common shareholders by the weighted- average number of common shares outstanding for the reporting period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. No effect is shown for any securities that are anti-dilutive. Net income allocated to common shareholders represents net income less income allocated to participating securities and non-controlling interests. None of the Company’s equity awards are participating securities. See Note 10 - Equity for additional information. Noncontrolling Interest Noncontrolling interest represents the aggregate limited partnership interests in FCPT OP held by third parties. In accordance with GAAP, the noncontrolling interest of FCPT OP is shown as a component of equity on our Consolidated Balance Sheets, and the portion of income allocable to third parties is shown as net income attributable to noncontrolling interests in our Income Statements and consolidated statements of comprehensive income (“Comprehensive Income Statement”). The Company follows the guidance issued by the FASB regarding the classification and measurement of redeemable securities. At FCPT OP’s option, it may satisfy this redemption with cash or by exchanging non-registered shares of FCPT common stock on a one-for-one basis. Accordingly, the Company has determined that the common OP units meet the requirements to be classified as permanent equity. A reconciliation of equity attributable to noncontrolling interest is disclosed in our Consolidated Statements of Changes in Equity. See Note 10 - Equity for additional information. Income Taxes We believe that we have been organized and have operated in conformity with the requirements for qualification and taxation as a REIT commencing with our taxable year ended December 31, 2016, and we intend to continue to operate in a manner that will enable us to maintain our qualification as a REIT. So long as we qualify as a REIT, we generally will not be subject to U.S. federal income tax on our net income. To maintain our qualification as a REIT, we are required under the Code to distribute at least 90% of our REIT taxable income (without regard to the deduction for dividends paid and excluding net capital gains) to our shareholders and meet certain other requirements. If we fail to qualify as a REIT in any taxable year, we will be subject to U.S. federal income tax on our taxable income at regular corporate rates. Even if we qualify as a REIT, we are subject to certain state, local and franchise taxes. Under certain circumstances, U.S. federal income and excise taxes may be due on our undistributed taxable income. The Kerrow Restaurant Operating Business is a TRS and is taxed as a C corporation. We provide for federal and state income taxes currently payable as well as for those deferred because of temporary differences between reporting income and expenses for financial statement purposes versus tax purposes. Federal income tax credits are recorded as a reduction of income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. Interest recognized on reserves for uncertain tax positions is included in interest, net in our Consolidated Statements of Comprehensive Income. A corresponding liability for accrued interest is included as a component of other liabilities on our Consolidated Balance Sheets. Penalties, when incurred, are recognized in general and administrative expenses. We estimate certain components of our provision for income taxes. These estimates include, among other items, depreciation and amortization expense allowable for tax purposes, allowable tax credits for items such as taxes paid on reported employee tip income, effective rates for state and local income taxes and the valuation and tax deductibility of certain other items. We adjust our annual effective income tax rate as additional information on outcomes or events becomes available. We base our estimates on the best available information at the time that we prepare the provision. We will generally file our annual income tax returns several months after our year end. Income tax returns are subject to audit by state and local governments, generally years after the returns are filed. These returns could be subject to material adjustments or differing interpretations of the tax laws. The major jurisdictions in which we will file income tax returns are the U.S. federal jurisdiction and all states in the U.S. in which we own properties that have an income tax. U.S. GAAP requires that a position taken or expected to be taken in a tax return be recognized (or derecognized) in the financial statements when it is more likely than not (i.e., a likelihood of more than 50 percent) that the position would be sustained upon examination by tax authorities. A recognized tax position is then measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. We include within our current tax provision the balance of unrecognized tax benefits related to tax positions for which it is reasonably possible that the total amounts could change during the next 12 months based on the outcome of examinations. See Note 9 - Income Taxes for additional information. Stock-Based Compensation The Company’s stock-based compensation plan provides for the grant of restricted stock awards (“RSAs”), deferred stock units (“DSUs”), performance-based awards including performance stock units (“PSUs”), dividend equivalents (“DEUs”), restricted stock units (“RSUs”), and other types of awards to eligible participants. DEUs are earned during the vesting period and received upon vesting of award. Upon forfeiture of an award, DEUs earned during the vesting period are also forfeited. We classify stock-based payment awards either as equity awards or liability awards based upon cash settlement options. Equity classified awards are measured based on the fair value on the date of grant. Liability classified awards are remeasured to fair value each reporting period. We recognize costs resulting from the Company’s stock-based compensation awards on a straight- line basis over their vesting periods, which range between one and five years. No compensation cost is recognized for awards for which employees do not render the requisite services. See Note 11 - Stock-based Compensation for additional information. Fair Value of Financial Instruments We use a fair value approach to value certain assets and liabilities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. We use a fair value hierarchy, which distinguishes between assumptions based on market data (observable inputs) and an entity's own assumptions (unobservable inputs). The hierarchy consists of three levels: • Level 1 - Quoted market prices in active markets for identical assets or liabilities; • Level 2 - Inputs other than level 1 inputs that are either directly or indirectly observable; and • Level 3 - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use. Application of New Accounting Standards We consider the applicability and impact of all ASUs issued by the FASB. Other than as disclosed below, ASUs not yet adopted were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated result of operations, financial position and cash flows. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in the ASU require, among other things, disclosure of significant segment expenses that are regularly provided to an entity's chief operating decision maker (“CODM”) and a description of other segment items (the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss) by reportable segment, as well as disclosure of the title and position of the CODM, and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Annual disclosures are required for fiscal years beginning after December 15, 2023 and interim disclosures are required for periods within fiscal years beginning after December 15, 2024. Retrospective application is required. We adopted this guidance for the annual period ending December 31, 2024 on a retrospective basis. We updated our segment disclosures to comply with the requirements. The adoption of the standard did not have an impact on our financial position, results of operations, or liquidity. See Note 14 - Segments for additional information. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign) among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures", which requires, among other things, the following for public business entities: (i) tabular disclosure of amounts for the following categories that are included in each expense caption within continuing operations on the statement of operations, with each expense caption that includes one of these expense categories deemed a relevant expense caption: (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization and (e) depreciation, depletion, and amortization recognized as part of oil-and gas-producing activities; (ii) disclosure of certain amounts that are already required to be disclosed under current GAAP in the same disclosure as the other disaggregation requirements; (iii) qualitative description of the amount remaining in relevant expense captions that are not separately disaggregated quantitatively; and (iv) disclosure of the total amount of selling expenses and, in annual reporting periods, an entity's definition of selling expenses. The provisions of ASU 2024-03 are effective for annual periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027; early adoption is permitted. Entities must apply the updates in ASU 2024-03 prospectively and are permitted to apply the updates retrospectively. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. |
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CONCENTRATION OF CREDIT RISK |
12 Months Ended |
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Dec. 31, 2024 | |
| Risks and Uncertainties [Abstract] | |
| CONCENTRATION OF CREDIT RISK | NOTE 3 – CONCENTRATION OF CREDIT RISK Our tenant base and the restaurant brands operating our properties are highly concentrated. With respect to our tenant base, Darden leases represent approximately 47.7% of the scheduled base rents of the properties we own. As our revenues predominately consist of rental payments, we are dependent on Darden for a significant portion of our leasing revenues. The audited and unaudited financial statements for Darden are included in its filings with the SEC, which can be found on the SEC’s internet website at www.sec.gov. Reference to Darden’s filings with the SEC is solely for the information of investors. We do not intend this website to be an active link or to otherwise incorporate the information contained on such website (including Darden’s filings with the SEC) into this report or our other filings with the SEC. We are also subject to concentration risk in terms of restaurant brands that occupy our properties. With 314 locations in our portfolio, Olive Garden branded restaurants comprise approximately 26.2% of our properties and approximately 34.2% of the revenues received under leases. Our properties, including the Kerrow Restaurant Operating Business, are located in 47 states. There are no concentrations of 10% or greater of total rental revenue in any one state. We are exposed to credit risk with respect to cash held at various financial institutions, access to our credit facility, and amounts due or payable under our derivative contracts. At December 31, 2024, our net exposure to risk related to amounts due to us on our derivative instruments totaling $20.3 million, and the counterparty to such instruments is an investment grade financial institution. Our credit risk exposure with regard to our cash deposits and the $245.0 million available capacity under the revolver portion of our credit facility is spread among a diversified group of investment grade financial institutions. |
REAL ESTATE INVESTMENTS, NET AND INTANGIBLE ASSETS AND LIABILITIES, NET |
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| Real Estate [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| REAL ESTATE INVESTMENTS, NET AND INTANGIBLE ASSETS AND LIABILITIES, NET | NOTE 4 – REAL ESTATE INVESTMENTS, NET AND INTANGIBLE ASSETS AND LIABILITIES, NET Real Estate Investments Real estate investments, net, which consist of land, buildings and improvements leased to others subject to net operating leases and those utilized in the operations of Kerrow Restaurant Operating Business is summarized as follows:
During the year ended December 31, 2024, the Company invested $273.0 million, including transaction costs, in 87 properties located in twenty-five states, and allocated the investment as follows: $119.9 million to land, $130.0 million to buildings and improvements, and $23.1 million to intangible assets. There was no contingent consideration associated with these acquisitions. These properties are 100% occupied under net leases, with a weighted average remaining lease term of 11.9 years as of December 31, 2024. During the year ended December 31, 2024, no properties were sold. During the year ended December 31, 2023, the Company invested $341.1 million, including transaction costs, in 92 properties located in twenty-eight states, and allocated the investment as follows: $127.7 million to land, $180.8 million to buildings and improvements, and $32.6 million to intangible assets. There was no contingent consideration associated with these acquisitions. These properties were 100% occupied under net leases, with a weighted average remaining lease term of 11.8 years as of December 31, 2023. During the year ended December 31, 2023, the Company sold seven properties with a combined net book value of $23.7 million for a realized gain of $2.3 million. During the year ended December 31, 2023, the Company exercised its option to purchase one of the properties where the Company was the lessee under the ground lease. This lease was previously accounted for as a finance lease. This purchase resulted in an increase in land and a corresponding decrease in finance lease right-of-use assets of $2.3 million. Intangible Real Estate Assets and Liabilities, Net The following tables detail intangible real estate assets and liabilities. Intangible real estate liabilities are included in Other liabilities on our Consolidated Balance Sheets. Acquired in-place lease intangibles are amortized over the remaining lease term as depreciation and amortization expense. Above-market and below-market leases are amortized over the initial term of the respective leases as an adjustment to rental revenue.
The value of acquired in-place leases amortized and included in depreciation and amortization expense was $17.1 million, $16.6 million, and $13.3 million for the years ended December 31, 2024, 2023, and 2022, respectively. The value of above-market and below-market leases amortized as a net adjustment to revenue was $1.2 million, $1.3 million, and $1.6 million for the years ended December 31, 2024, 2023, and 2022, respectively. The value of lease incentives amortized as a decrease to revenue was $838 thousand, $694 thousand, and $560 thousand for the years ended December 31, 2024, 2023, and 2022, respectively. At December 31, 2024, the total weighted average amortization period remaining for our intangible real estate assets and liabilities was 8.8 years, and the individual weighted average amortization period remaining for acquired in-place lease intangibles, above-market leases, below-market leases, lease incentive, and tenant improvement intangible was 8.6 years, 6.2 years, 10.1 years, 11.2 years and 14.2 years, respectively. Amortization of Lease Intangibles The following table presents the estimated net impact during the next five years and thereafter related to the amortization of in-place lease intangibles, and above-market and below-market lease intangibles for properties held in investment.
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LEASES |
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| LEASES | NOTE 5 – LEASES Operating Leases as Lessee As a lessee we record right-of-use assets and lease liabilities for the two ground leases at our Kerrow Restaurant Operating Business and our corporate office space. The two ground leases have extension options, which we believe will be exercised and are included in the calculation of our lease liabilities and right-of-use assets. In calculating the lease obligations under both the ground leases and office lease, we used discount rates estimated to be equal to what the Company would have to pay to borrow on a collateralized basis over a similar term, for an amount equal to the lease payments, in a similar economic environment. Operating Lease Liability Maturities of operating lease liabilities were as follows:
The weighted-average discount rate for operating leases at December 31, 2024 was 4.45%. The weighted-average remaining lease term was 15.8 years. Rent expense was $918 thousand, $910 thousand, and $890 thousand for the years ended December 31, 2024, 2023, and 2022, respectively. Operating Leases as Lessor Our leases consist primarily of single-tenant, net leases, in which the tenants are responsible for making payments to third parties for operating expenses such as property taxes, insurance, and other costs associated with the properties leased to them. In leases where costs are paid by the Company and reimbursed by lessees, such payments are considered variable lease payments and recognized in rental revenue. The following table shows the components of rental revenue.
Future Minimum Lease Payments to be Received The following table presents the scheduled minimum future contractual rent to be received under the remaining non-cancelable term of the operating leases. The table presents future minimum lease payments due during the initial lease term only as lease renewal periods are exercisable at the option of the lessee.
Ground Leases as Lessee As of December 31, 2024 and December 31, 2023, the Company had finance ground lease assets aggregating $13.9 million and $14.0 million, respectively. These assets are included in intangible real estate assets, net on the Consolidated Balance Sheets. The Company did not recognize a lease liability as no payments are due in the future under the leases. The Company’s ground lease assets have remaining terms of 59 years to 94 years. All but two of these leases have options to extend the lease terms for additional 99 years terms, and all have the option to purchase the assets once certain conditions and contingencies are met. The weighted average remaining non-cancelable lease term for the ground leases was 89 years at December 31, 2024. |
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| LEASES | NOTE 5 – LEASES Operating Leases as Lessee As a lessee we record right-of-use assets and lease liabilities for the two ground leases at our Kerrow Restaurant Operating Business and our corporate office space. The two ground leases have extension options, which we believe will be exercised and are included in the calculation of our lease liabilities and right-of-use assets. In calculating the lease obligations under both the ground leases and office lease, we used discount rates estimated to be equal to what the Company would have to pay to borrow on a collateralized basis over a similar term, for an amount equal to the lease payments, in a similar economic environment. Operating Lease Liability Maturities of operating lease liabilities were as follows:
The weighted-average discount rate for operating leases at December 31, 2024 was 4.45%. The weighted-average remaining lease term was 15.8 years. Rent expense was $918 thousand, $910 thousand, and $890 thousand for the years ended December 31, 2024, 2023, and 2022, respectively. Operating Leases as Lessor Our leases consist primarily of single-tenant, net leases, in which the tenants are responsible for making payments to third parties for operating expenses such as property taxes, insurance, and other costs associated with the properties leased to them. In leases where costs are paid by the Company and reimbursed by lessees, such payments are considered variable lease payments and recognized in rental revenue. The following table shows the components of rental revenue.
Future Minimum Lease Payments to be Received The following table presents the scheduled minimum future contractual rent to be received under the remaining non-cancelable term of the operating leases. The table presents future minimum lease payments due during the initial lease term only as lease renewal periods are exercisable at the option of the lessee.
Ground Leases as Lessee As of December 31, 2024 and December 31, 2023, the Company had finance ground lease assets aggregating $13.9 million and $14.0 million, respectively. These assets are included in intangible real estate assets, net on the Consolidated Balance Sheets. The Company did not recognize a lease liability as no payments are due in the future under the leases. The Company’s ground lease assets have remaining terms of 59 years to 94 years. All but two of these leases have options to extend the lease terms for additional 99 years terms, and all have the option to purchase the assets once certain conditions and contingencies are met. The weighted average remaining non-cancelable lease term for the ground leases was 89 years at December 31, 2024. |
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DEBT, NET OF DEFERRED FINANCING COSTS |
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| Debt, Net of Deferred Financing Costs | NOTE 6 – DEBT, NET OF DEFERRED FINANCING COSTS At December 31, 2024, our debt consisted of (1) $515 million of non-amortizing term loans and (2) $625 million of senior unsecured fixed rate notes. At December 31, 2023, our debt consisted of (1) $430 million of non-amortizing term loans and (2) $675 million of senior unsecured fixed rate notes. The outstanding borrowings under the revolving credit facility were $5 million and $16 million at December 31, 2024 and 2023, respectively. At December 31, 2024 and 2023, there were no outstanding letters of credit. At December 31, 2024, we had $245.0 million of borrowing capacity under the revolving credit facility. The weighted average interest rate on the term loans before consideration of the interest rate hedges described in Note 7 - Derivative Financial Instruments was 5.62% and 6.40% at December 31, 2024 and 2023, respectively. The weighted average interest rate on the revolving credit facility was 5.46% and 6.46% at December 31, 2024 and 2023, respectively. Revolving Credit and Term Loan Agreement On March 14, 2024, FCPT entered into an Incremental Amendment to the Third Amended and Restated Revolving Credit and Term Loan Agreement with a group of existing lenders (the “Credit Agreement”). The Company utilized the accordion feature of the Third Amended and Restated Revolving Credit and Term Loan Agreement to enter into a new $85 million term loan (the “Term Loan”), the proceeds from which were used to repay the $50 million of senior unsecured notes payable due in June 2024. The Term Loan matures in March 2027 with one twelve month extension exercisable at the Company’s option, subject to certain conditions. The following table presents the Term Loan balances.
(a) Loan is a variable-rate loan which resets daily at Daily Simple + 10 bps + applicable credit spread of 0.95% to 1.00% at December 31, 2024. (b) Loan has a 12 month extension exercisable at the Company's option, subject to certain conditions. (c) See Note 15 - Subsequent Events for additional information. Note Purchase Agreements The following table presents the senior unsecured fixed rate notes balance.
The Note Purchase Agreements contain customary events of default, including payment defaults, cross defaults with certain other indebtedness, breaches of covenants and bankruptcy events. In the case of an event of default, the purchasers may, among other remedies, accelerate the payment of all obligations. The Note Purchase Agreements have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States or any other jurisdiction absent registration or an applicable exemption from the registration requirements of the Securities Act and the applicable securities laws of any state or other jurisdiction. FCPT OP offered and sold the notes. Debt Maturities The following presents scheduled principal payments related to the Company’s debt.
Deferred Financing Costs At December 31, 2024 and 2023, term loan and revolving credit facility net unamortized deferred financing costs were approximately $3.7 million and $4.3 million, respectively. During the years ended December 31, 2024, 2023, and 2022, amortization of deferred financing costs was $1.9 million, $1.6 million, and $1.5 million, respectively. At December 31, 2024 and 2023, senior unsecured notes net unamortized deferred financing costs were approximately $3.4 million and $4.1 million, respectively. During the years ended December 31, 2024, 2023, and 2022, amortization of deferred financing costs was $0.7 million, $0.7 million, and $0.6 million, respectively. Debt Covenants Under the terms of both the Note Purchase Agreement and Loan Agreement (the “Agreements”), FCPT acts as a guarantor to FCPT OP. The Agreements contain customary financial covenants, including (1) total indebtedness to consolidated capitalization value (each as defined in the Loan Agreement) not to exceed 60%, (2) mortgage-secured leverage ratio not to exceed 40%, (3) minimum fixed charge coverage ratio of 1.50 to 1.00, (4) maximum unencumbered leverage ratio not to exceed 60%, and (5) minimum unencumbered interest coverage ratio not less than 1.75 to 1.00. They also contain restrictive covenants that, among other things, restrict the ability of FCPT OP, the Company and their subsidiaries to enter into transactions with affiliates, merge, consolidate, create liens or make certain restricted payments. In addition, the Agreements include provisions providing that certain of such covenants will be automatically amended in the Note Purchase Agreement to conform to certain amendments that may from time to time be implemented to corresponding covenants under the Loan Agreement. At December 31, 2024, the Company was in compliance with all debt covenants. |
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DERIVATIVE FINANCIAL INSTRUMENTS |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DERIVATIVE FINANCIAL INSTRUMENTS | NOTE 7 – DERIVATIVE FINANCIAL INSTRUMENTS Risk Management Objective of Using Derivatives We are exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of our debt funding and the use of derivative financial instruments. Specifically, we enter into derivative financial instruments to manage exposures that arise from business activities that result in our payment of future cash amounts, the value of which are determined by interest rates. Our derivative financial instruments are used to manage differences in the amount, timing, and duration of our known or expected cash payments principally related to our borrowings. Cash Flow Hedges of Interest Rate Risk Our objective in using interest rate derivatives is to manage our exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for us making fixed- rate payments over the life of the agreements without exchange of the underlying notional amount. The changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded on our Consolidated Balance Sheets in accumulated other comprehensive income and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the year ended December 31, 2024, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. As of December 31, 2024, $435 million of our variable-rate debt is hedged with notional values totaling $435 million. As of December 31, 2023, $375 million of our variable-rate debt was hedged by swaps with notional values totaling $375 million. During the year ended December 31, 2024, we entered into seven interest rate swaps to hedge the interest rate variability associated with the term loan portion of our credit facility.
The Company enters into forward-starting interest rate swap agreements to hedge against changes in future cash flows resulting from changes in interest rates from the trade date through the forecasted issuance date of long-term debt. During the year ended December 31, 2024, the Company terminated one cash flow hedge in connection with the $85 million Term Loan that was entered into on March 11, 2024 and funded on March 14, 2024. This cash flow hedge had a total notional value of $25 million and was entered into in August 2023 to hedge the interest rate on a future offering or term loan. The swap was terminated on February 28, 2024, with the corresponding asset of $211 thousand which will be amortized over the next 10 years as an increase to interest expense. The Company also terminated two cash flow hedges in connection with the $225 million Amended Term Loan. See Note 15 - Subsequent Events - Capital Resources. The cash flow hedges had a total notional value of $75 million and were entered into in June 2024 and August 2024 to hedge the interest rate on a future offering or term loan. The swaps were terminated on December 10, 2024, with the corresponding asset of $243 thousand which will be amortized over the next 10 years as an increase to interest expense. For the years ended December 31, 2024, 2023, and 2022, we did not record hedge ineffectiveness in earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate debt. We estimate that during 2025 an additional $7.9 million (unaudited) will be reclassified to earnings as a reduction to interest expense. Non-designated Hedges We do not use derivatives for trading or speculative purposes. During the years ended December 31, 2024 and 2023, we did not have any derivatives that were not designated as cash flow hedges for accounting purposes. Tabular Disclosure of Fair Values of Derivative Instruments on the Consolidated Balance Sheets The table below presents the fair value of our derivative financial instruments as well as their classification on the Consolidated Balance Sheets.
Tabular Disclosure of the Effect of Derivative Instruments on the Consolidated Statements of Comprehensive Income The table below presents the effect of our interest rate swaps on the Comprehensive Income Statement.
Tabular Disclosure Offsetting Derivatives The table below presents a gross presentation, the effects of offsetting, and a net presentation of our derivatives. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value which provides the location that derivative assets and liabilities are presented on the Consolidated Balance Sheets. Offsetting of Derivative Assets
Offsetting of Derivative Liabilities
Credit-risk-related Contingent Features The agreement with our derivative counterparties provides that if we default on any of our indebtedness, including default for which repayment of the indebtedness has not been accelerated by the lender, then we could also be declared in default on our derivative obligations. At December 31, 2024 the fair value of derivative in a net asset position related to these agreements was approximately $20.3 million and at December 31, 2023 the fair value of the derivative in a net asset position related to these agreements was $18.0 million. As of December 31, 2024, we have not posted any collateral related to these agreements. If we or our counterparty had breached any of these provisions at December 31, 2024, we would have been entitled to the termination value of approximately $20.3 million. |
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SUPPLEMENTAL DETAIL FOR CERTAIN COMPONENTS OF CONSOLIDATED BALANCE SHEETS |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUPPLEMENTAL DETAIL FOR CERTAIN COMPONENTS OF CONSOLIDATED BALANCE SHEETS | NOTE 8 – SUPPLEMENTAL DETAIL FOR CERTAIN COMPONENTS OF CONSOLIDATED BALANCE SHEETS Other Assets The components of Other assets were as follows:
Other Liabilities The components of Other liabilities were as follows:
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INCOME TAXES |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INCOME TAXES | NOTE 9 – INCOME TAXES The income tax expense was composed as follows:
The following table is a reconciliation of the U.S. statutory income tax rate to the effective income tax rate included in the accompanying Consolidated Income Statements:
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts for income tax purposes, as well as operating loss and tax credit carryforwards. The Company evaluates the realizability of its deferred tax assets and recognizes a valuation allowance if, based on the available evidence, both positive and negative, it is more likely than not that some portion or all of its deferred tax assets will not be realized. When evaluating the realizability of its deferred tax assets, the Company considers, among other matters, estimates of expected future taxable income, nature of current and cumulative losses, existing and projected book/tax differences, tax planning strategies available, and the general and industry specific economic outlook. This realizability analysis is inherently subjective, as it requires the Company to forecast its business and general economic environment in future periods. The tax effects of temporary differences that gave rise to deferred tax assets and liabilities were as follows:
(1) These buildings and equipment in 2024, 2023, and 2022 relate to the Kerrow Restaurant Operating Business. |
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EQUITY |
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| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EQUITY | NOTE 10 – EQUITY Preferred Stock At December 31, 2024, the Company was authorized to issue 25,000,000 shares of $0.0001 par value per share of preferred stock. There were no shares issued and outstanding at December 31, 2024 or December 31, 2023. Common Stock At December 31, 2024, the Company was authorized to issue 500,000,000 shares of $0.0001 par value per share of common stock. Each holder of common stock is entitled to vote on all matters and is entitled to vote for each share held. In March 2024, we declared a dividend of $0.3450 per share, which was paid in April 2024 to common shareholders of record as of March 31, 2024. In June 2024, we declared a dividend of $0.3450 per share, which was paid in July 2024 to common shareholders of record as of June 28, 2024. In September 2024, we declared a dividend of $0.3450 per share, which was paid in October 2024 to common shareholders of record as of September 30, 2024. In November 2024, we declared a dividend of $0.3550 per share, which was payable on January 15, 2025 to common shareholders of record as of December 31, 2024. As of December 31, 2024, there were 99,825,119 shares of the Company's common stock issued and outstanding. Common Stock Issuance Under the At-The-Market Program On September 17, 2024, the Company entered into a new ATM program (the "ATM program"), pursuant to which shares of the Company’s common stock having an aggregate gross sales price of up to $500.0 million may be offered and sold (1) by the Company to, or through, a consortium of banks acting as its sales agents or (2) by a consortium of banks acting as forward sellers on behalf of any forward purchasers contemplated thereunder, in each case by means of ordinary brokers’ transactions on the NYSE or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, by privately negotiated transactions (including block sales) or by any other methods permitted by applicable law. The ATM program replaces the Company's previous $450.0 million ATM program (the "prior ATM program" and, together with the ATM program, the "ATM programs"), which was established in November 2022, under which the Company had sold shares of its common stock having an aggregate gross sales price of $404.8 million through September 17, 2024. In connection with the Company’s ATM programs, the Company may enter into forward sale agreements with certain financial institutions acting as forward purchasers whereby, at the Company's discretion, the forward purchasers may borrow and sell shares of common stock. The use of forward sale agreements allows the Company to lock in a share price on the sale of shares of common stock at the time the respective forward sale agreements are executed but defer settling the forward sale agreements and receiving the proceeds from the sale of shares until a later date. The following tables present the Company’s activity under its ATM programs:
(1) net proceeds, after sales commissions and offering expenses At December 31, 2024, the Company had outstanding forward sale agreement to sell 3,530,575 shares of common stock at a weighted average sales price of $28.27 before sales commission and offering expenses. At December 31, 2024, there was $413.9 million available for issuance under the ATM programs. Noncontrolling Interest At December 31, 2024, there were 114,559 FCPT OP units (“OP units”) outstanding held by third parties. During the year ended December 31, 2024, FCPT OP did not issue any OP units for consideration in real estate transactions. Generally, OP units participate in net income allocations and distributions and entitle their holder the right, subject to the terms set forth in the partnership agreement, to require the Operating Partnership to redeem all or a portion of the OP units held by such limited partner. At FCPT OP’s option, it may satisfy this redemption with cash or by exchanging non-registered shares of FCPT common stock on a one-for-one basis. Prior to the redemption of units, the limited partners participate in net income allocations and distributions in a manner equivalent to the common stock holders. The redemption value of outstanding non-controlling interest OP units was $3.1 million, $2.9 million, and $3.0 million as of December 31, 2024, 2023, and 2022, respectively. As of December 31, 2024, FCPT is the owner of approximately 99.89% of FCPT’s OP units. The remaining 0.11%, or 114,559, of FCPT’s OP units are held by unaffiliated limited partners. For the year ended December 31, 2024, FCPT OP distributed $159 thousand to limited partners. Earnings Per Share The following table presents the computation of basic and diluted net earnings per common share for the years ended December 31, 2024, 2023, and 2022.
For the years ended December 31, 2024, 2023, and 2022, the number of outstanding equity awards that were anti-dilutive totaled 424,533, 274,384, and 262,600, respectively. Exchangeable OP units have been omitted from the denominator for the purpose of computing diluted earnings per share since FCPT OP, at its option, may satisfy a redemption with cash or by exchanging non-registered shares of FCPT common stock. The weighted average exchangeable OP units outstanding for the year ended December 31, 2024, 2023, and 2022, totaled 114,559, 114,559, and 114,559, respectively. |
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STOCK-BASED COMPENSATION |
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| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| STOCK-BASED COMPENSATION | NOTE 11 – STOCK-BASED COMPENSATION On June 10, 2022, the Board of Directors of FCPT adopted, and FCPT’s stockholders approved, the Amended and Restated Four Corners Property Trust, Inc. 2015 Omnibus Incentive Plan (the “Amended Plan”) to, among other things, increase the maximum number of shares of our common stock reserved for issuance under the 2015 Plan by 1,500,000 shares to 3,600,000 shares. At December 31, 2024, 1,431,588 shares of common stock were available for award under the Plan. The unamortized compensation cost of awards issued under the Incentive Plan totaled $8.2 million at December 31, 2024 as shown in the following table. Equity Compensation Costs by Award Type
At December 31, 2024, the weighted average amortization period remaining for all of our equity awards was 1.8 years. Restricted Stock Units RSUs are granted at a value equal to the five-day average closing market price of our common stock on the date of grant and are settled in stock at the end of their vesting periods, which range between and five years, at the then market price of our common stock. The following table summarizes the activities related to RSUs.
Expenses related to RSUs were $1.5 million, $1.9 million, and $1.6 million for the years ended December 31, 2024, 2023, and 2022, respectively. Remaining unrecognized compensation cost related to RSU will be recognized over a weighted average period of less than five years. Restrictions on shares of restricted stock outstanding lapse through 2029. The Company expects all RSUs to vest. Restricted Stock Awards The following table summarizes the activities related to RSAs.
Expenses related to RSAs were $3.1 million, $2.9 million, and $2.4 million for the years ended December 31, 2024, 2023, and 2022, respectively. The remaining unrecognized compensation cost will be recognized over a weighted average period of less than three years. Restrictions on shares of RSAs outstanding lapse through 2027. The Company expects all RSAs to vest. Performance-Based Restricted Stock Awards During the years ended December 31, 2024, 2023, and 2022, there were 95,682, 87,700, and 66,369 PSUs as well as dividend equivalent rights granted under the Plan, respectively. The performance period of these grants runs from January 1, 2024 through December 31, 2026, January 1, 2023 through December 31, 2025, and from January 1, 2022 through December 31, 2024, respectively. Pursuant to the performance share award agreement, each participant is eligible to vest in and receive shares of the Company's common stock based on the initial target number of shares granted multiplied by a percentage range between 0% and 200%. The percentage range is based on the attainment of a total shareholder return of the Company compared to certain specified peer groups of companies during the performance period. The fair value of the performance shares were estimated on the date of grant using a Monte Carlo Simulation model. During the years ended December 31, 2024, 2023, and 2022, PSUs were granted at a weighted average fair value of $32.48, $37.50, and $18.63 per unit, respectively. During the year ended December 31, 2024, 3,309 PSUs were forfeited. During the year ended December 31, 2024, 73,023 PSUs vested at 0%, resulting in the distribution of no shares. The Company expects all PSUs to vest. The grant date fair values of PSUs were determined through Monte-Carlo simulations using the following assumptions: our common stock closing price at the grant date, the average closing price of our common stock price for the 20 trading days prior to the grant date and a range of performance-based vesting based on estimated total shareholder return over three years from the grant date. For the 2024 PSU grant, the Company used an implied volatility assumption of 21.9% (based on historical volatility), risk free rate of 4.09%, and a 0% dividend yield (the mathematical equivalent to reinvesting the dividends over the three-year performance period as is consistent with the terms of the PSUs). For the 2023 PSU grant, the Company used an implied volatility assumption of 51.2% (based on historical volatility), normalized risk free rate of 3.76%, and a 0% dividend yield (the mathematical equivalent to reinvesting the dividends over the three years performance period as is consistent with the terms of the PSUs). For the 2022 PSU grant, the Company used an implied volatility assumption of 49.5% (based on historical volatility), normalized risk free rate of 2.50%, and a 0% dividend yield (the mathematical equivalent to reinvesting the dividends over the three years performance period as is consistent with the terms of the PSUs). Expenses related to PSUs were $2.4 million, $1.5 million, and $1.0 million for the years ended December 31, 2024, 2023, and 2022, respectively. |
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FAIR VALUE MEASUREMENTS |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE MEASUREMENTS | NOTE 12 – FAIR VALUE MEASUREMENTS The carrying amounts of certain of the Company’s financial instruments including cash equivalents, accounts receivable, accounts payable, accrued liabilities, and derivative financial instruments approximate fair value due either to length of maturity or interest rates that approximate prevailing market rates. Determining which category an asset or liability falls within the hierarchy requires significant judgment. We evaluate hierarchy disclosures each reporting period. The following table presents the derivative assets recorded that are reported at fair value on our Consolidated Balance Sheets on a recurring basis. Derivative Assets and Liabilities Measured at Fair Value on a Recurring Basis
Derivative Financial Instruments Currently, we use interest rate swaps to manage our interest rate risk associated with our note payable. The valuation of these instruments is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The fair values of interest rate options will be determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. To comply with the provisions of ASC 820, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by ourselves and our counterparties. We have determined that the significance of the impact of the credit valuation adjustments made to our derivative contracts, which determination was based on the fair value of each individual contract, was not significant to the overall valuation. As a result, all of our derivatives held as of December 31, 2024 were classified as Level 2 of the fair value hierarchy. The following table presents the carrying value and fair value of certain financial liabilities that are recorded on our Consolidated Balance Sheets. Fair Value of Certain Financial Liabilities
(1) Term loan and senior note liabilities exclude deferred financing costs The fair value of the Notes payable (Level 2) is determined using the present value of the contractual cash flows, discounted at the current market cost of debt. |
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COMMITMENTS AND CONTINGENCIES |
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| Commitments and Contingencies Disclosure [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | NOTE 13 – COMMITMENTS AND CONTINGENCIES Litigation We are subject to private lawsuits, administrative proceedings and claims that arise in the ordinary course of our business. A number of these lawsuits, proceedings and claims may exist at any given time. These matters typically involve claims from guests, employee wage and hour claims and others related to operational issues common to the restaurant industry. We record our best estimate of a loss when the loss is considered probable. When a liability is probable and there is a range of estimated loss with no best estimate in the range, we record the minimum estimated liability related to the lawsuits, proceedings or claims. While the resolution of a lawsuit, proceeding or claim may have an impact on our financial results for the period in which it is resolved, we believe that the maximum liability related to probable lawsuits, proceedings and claims in which we are currently involved, individually and in the aggregate, will not have a material adverse effect on our financial position, results of operations or liquidity. |
SEGMENTS |
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| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENTS | NOTE 14 – SEGMENTS During 2024, 2023, and 2022, we operated in two segments: real estate operations and restaurant operations. In our real estate operations, we lease properties to tenants through net lease arrangements under which the tenants are primarily responsible for ongoing costs relating to the properties, including utilities, property taxes, insurance, common area maintenance charges, and maintenance and repair costs. In our restaurant operations, we operate seven LongHorn Steakhouse restaurants located in the San Antonio, Texas area. Our chief operating decision maker evaluates performance of the real estate operations based on Adjusted Funds from Operations (“AFFO”) and evaluates performance of the restaurant operations based on Earnings Before Interest, Taxes, Depreciation, and Amortization ("EBITDA") in order to determine how to allocate resources to these segments. We define AFFO as total real estate operations segment revenues, less total segment operating expenses. We define EBITDA as total restaurant operations segment revenues less total segment operating expenses. We consider these respective measures useful because they allow investors, analysts and our management to measure our year-over-year ability to fund dividend distribution from operating activities. In order to facilitate a clear understanding of our historical consolidated operating results, AFFO and EBITDA should be examined in conjunction with net income as presented in our Consolidated Financial Statements and other financial data included elsewhere in this Annual Report. Our segments are based on our organizational and management structure, which aligns with how our results are monitored and performance is assessed. The accounting policies of the reportable segments are the same as those described in Note 2 - Summary of Significant Accounting Policies. The following table presents financial information for the real estate operations segment.
(1) Other segment items, net includes: compensation and related expenses, external services, other operating costs, property expenses, other income, net, and income tax expense The following table presents financial information for the restaurant operations segment.
The following table reconciles the segment revenues to our total revenues.
The following table reconciles the segment net incomes to our net income.
The following table presents supplemental information by segment. Supplemental Segment Information at December 31, 2024
Supplemental Segment Information at December 31, 2023
Capital expenditures in our Consolidated Statements of Cash Flows relate to the real estate operations segment. |
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SUBSEQUENT EVENTS |
12 Months Ended |
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Dec. 31, 2024 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | NOTE 15 – SUBSEQUENT EVENTS The Company reviewed its subsequent events and transactions that have occurred after December 31, 2024, the date of the Consolidated Balance Sheet, through February 13, 2025, and noted the following: Capital Resources On January 31, 2025, the Company entered into a Fourth Amended and Restated Revolving Credit and Term Loan Agreement with a group of existing lenders (the “Credit Agreement”). The Credit Agreement increases the overall size of the facility from $765 million to $940 million by increasing the revolving credit facility capacity to $350 million and entering into a new $225 million term loan (the “Amended Term Loan”). Both the Amended Term Loan and revolving credit facility mature in February 2029, and feature a one-year extension option at the Company’s discretion, subject to certain conditions. The Amended Term Loan was used, in part, to pay down $150 million of loans maturing in November 2025. Additionally, FCPT’s lenders agreed to provide a one-year extension option for the $100 million of term loans maturing in November 2026 at the Company’s discretion, subject to certain conditions. The outstanding balances and maturities for the $90 million term loan maturing in 2027, the $85 million term loan maturing in 2027, and the $90 million loan maturing in 2028 were not impacted by the extension. Acquisitions & Disposals The Company invested $9.7 million in the acquisition of two net lease properties with an investment yield of approximately 6.45%, and approximately 12.8 years of lease term remaining. The Company funded the acquisitions with cash on hand. The Company anticipates accounting for the transactions as asset acquisitions in accordance with U.S. GAAP. There was no contingent liability associated with the transactions at December 31, 2024. |
SCHEDULE III- SCHEDULE OF REAL ESTATE ASSETS |
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| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SCHEDULE III- SCHEDULE OF REAL ESTATE ASSETS |
(1) Amounts shown as reductions to cost capitalized since acquisition represent provisions recorded for impairment of real estate or partial dispositions.
Tax Cost The aggregate gross cost of the Company’s properties for federal income tax purposes approximated $3.2 billion (unaudited) as of December 31, 2024. SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION (Dollars in thousands)
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) |
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principles of Consolidation and Basis of Presentation | Principles of Consolidation and Basis of Presentation The accompanying consolidated financial statements (“the Consolidated Financial Statements”) include the accounts of Four Corners Property Trust, Inc. and its consolidated subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The Consolidated Financial Statements reflect all adjustments which are, in the opinion of management, necessary to a fair presentation of the results for the interim periods presented. These adjustments are considered to be of a normal, recurring nature. |
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| Segment Reporting | Segment Reporting The Company has two operating segments, real estate operations and restaurant operations. The Company has identified its real estate operations and restaurant operations as separate reportable segments based on the nature of the operations and its organizational and management structure, which aligns with how results are monitored and performance is assessed. This is consistent with how the Company’s chief operating decision maker, which is its Chief Executive Officer, makes decisions when assessing the financial performance of the Company’s portfolio of properties and restaurant operations. |
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| Use of Estimates | Use of Estimates The preparation of these Consolidated Financial Statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of sales and expenses during the reporting period. The estimates and assumptions used in the accompanying Consolidated Financial Statements are based on management’s evaluation of the relevant facts and circumstances. Actual results may differ from the estimates and assumptions used in preparing the accompanying Consolidated Financial Statements, and such differences could be material. |
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| Real Estate Investments, Net | Real Estate Investments, Net Real estate investments, net are recorded at cost less accumulated depreciation. Building components are depreciated over estimated useful lives ranging from to fifty-five years using the straight-line method. Leasehold improvements, which are reflected on our Consolidated Balance Sheets as a component of buildings, equipment, and improvements, net, are amortized over the lesser of the non-cancelable lease term or the estimated useful lives of the related assets using the straight-line method. Equipment is depreciated over estimated useful lives ranging from to fifteen years also using the straight-line method. Real estate development and construction costs for newly constructed restaurants are capitalized in the period in which they are incurred. Gains and losses on the disposal of land, buildings and equipment are included in realized gain on sale, net in our accompanying Consolidated Statements of Income (“Income Statements”). Our accounting policies regarding land, buildings, equipment, and improvements, include our judgments regarding the estimated useful lives of these assets, the residual values to which the assets are depreciated or amortized, the determination of what constitutes a reasonably assured lease term, and the determination as to what constitutes enhancing the value of or increasing the life of existing assets. These judgments and estimates may produce materially different amounts of reported depreciation and amortization expense if different assumptions were used. As discussed further below, these judgments may also impact our need to recognize an impairment charge on the carrying amount of these assets as the cash flows associated with the assets are realized, or as our expectations of estimated future cash flows change. Acquisition of Real Estate The Company evaluates acquisitions to determine whether transactions should be accounted for as asset acquisitions or business combinations in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2017-01. The Company has determined the land, building, site improvements, and in-places leases (if any) of assets acquired were each single assets as the building and property improvements are attached to the land and cannot be physically removed and used separately from the land without incurring significant costs or reducing their fair value. Additionally, the Company has not acquired a substantive process used to generate outputs. As substantially all of the fair value of the gross assets acquired are concentrated in a single identifiable asset and there were no processes acquired, the acquisitions do not qualify as businesses and are accounted for as asset acquisitions. Related transaction costs are generally capitalized and amortized over the useful lives of the acquired assets. The Company allocates the purchase price (including acquisition and closing costs) of real estate acquisitions to land, building, and improvements based on their relative fair values. The determination of the building fair value is on an ‘as-if- vacant’ basis. Value is allocated to acquired lease intangibles (if any) based on the costs avoided and revenue recognized by acquiring the property subject to lease and avoiding an otherwise ‘dark period’. In making estimates of fair values for this purpose, the Company uses a third-party specialist that obtains various information about each property, as well as the pre- acquisition due diligence of the Company and prior leasing activities at the site. Lease Intangibles Lease intangibles, if any, acquired in conjunction with the purchase of real estate represent the value of in-place leases and above- or below-market leases. For real estate acquired subject to existing lease agreements, acquired lease intangibles are valued based on the Company’s estimates of costs related to tenant acquisition and the asset carrying costs, including lost revenue, that would be incurred during the time it would take to locate a tenant if the property were vacant, considering current market conditions and costs to execute similar leases at the time of the acquisition. Above-market and below-market lease intangibles are recorded based on the present value of the difference between the contractual amounts to be paid pursuant to the leases at the time of acquisition of the real estate and the Company’s estimate of current market lease rates for the property, measured over a period equal to the remaining initial term of the lease. In-place lease intangibles are amortized on a straight-line basis over the remaining initial term of the related lease and included in depreciation and amortization expense. Above-market lease intangibles are amortized over the remaining initial terms of the respective leases as a decrease in rental revenue. Below-market lease intangibles are generally amortized as an increase to rental revenue over the remaining initial term of the respective leases, but may be amortized over the renewal periods if the Company believes it is likely the tenant will exercise the renewal option. Should a lease terminate early, the unamortized portion of any related lease intangible is immediately recognized as an impairment loss included in depreciation and amortization expense. To date, the Company has not had significant early terminations. Finance ground lease assets are also included in intangible real estate assets, net on the Consolidated Balance Sheets. See Leases below for additional information. |
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| Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Land, buildings and equipment and certain other assets, including definite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Such events and changes may include macroeconomic conditions which may result in property operational disruption and indicate that the carrying amount may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future undiscounted net cash flows expected to be generated by the assets. Identifiable cash flows are measured at the lowest level for which they are largely independent of the cash flows of other groups of assets and liabilities, generally at the restaurant level. If these assets are determined to be impaired, the amount of impairment recognized is measured by the amount by which the carrying amount of the assets exceeds their fair value. Fair value is generally determined by appraisals or sales prices of comparable assets. The judgments we make related to the expected useful lives of long-lived assets and our ability to realize undiscounted cash flows in excess of the carrying amounts of these assets are affected by factors such as the ongoing maintenance and improvements of the assets, changes in economic conditions, changes in usage or operating performance, desirability of the restaurant sites and other factors, such as our ability to sell our assets held for sale. As we assess the ongoing expected cash flows and carrying amounts of our long-lived assets, significant adverse changes in these factors could cause us to realize a material impairment loss. Exit or disposal activities include the cost of disposing of the assets and are generally expensed as incurred. Upon disposal of the assets, any gain or loss is recorded in the same caption within our Consolidated Income Statements as the original impairment. Provisions for impairment are included in depreciation and amortization expense in the accompanying Consolidated Income Statements. During the years ended December 31, 2024, 2023, and 2022 we did not record provisions for impairment. |
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| Real Estate Held for Sale | Real Estate Held for Sale Real estate is classified as held for sale when the sale is probable, will be completed within one year, purchase agreements are executed, the buyer has a significant deposit at risk, and no financing contingencies exist which could prevent the transaction from being completed in a timely manner. Restaurant sites and certain other assets to be disposed of are included in assets held for sale when the likelihood of disposing of these assets within one year is probable. Assets whose disposal is not probable within one year remain in land, buildings, equipment and improvements until their disposal within one year is probable. Disposals of assets that have a major effect on our operations and financial results or that represent a strategic shift in our operating businesses meet the requirements to be reported as discontinued operations. Real estate held for sale is reported at the lower of carrying amount or fair value, less estimated costs to sell. No properties were held for sale at December 31, 2024 or 2023. |
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| Cash, Cash Equivalents, and Restricted Cash | Cash, Cash Equivalents, and Restricted Cash We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Cash and cash equivalents can consist of cash and money market accounts. Restricted cash consists of 1031 exchange proceeds and is included in Other assets on our Consolidated Balance Sheets. The following table provides a reconciliation of cash, cash equivalents, and restricted cash in our Consolidated Balance Sheets to the total amount shown in our Consolidated Statements of Cash Flows.
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| Debt | Debt The Company’s debt consists of non-amortizing term loans, a revolving credit facility and senior, unsecured, fixed rate notes (collectively referred to as “Debt”). Debt is carried at unpaid principal balance, net of deferred financing costs. All of our debt is currently unsecured and interest is paid monthly on our non-amortizing term loans and revolving credit facility and semi-annually on our senior unsecured fixed rate notes. Deferred Financing Costs Financing costs related to debt are deferred and amortized over the remaining life of the debt using the effective interest method. These costs are presented as a direct deduction from their related liabilities on the Consolidated Balance Sheets. See Note 6 - Debt, Net of Deferred Financing Costs for additional information. |
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| Derivative Instruments and Hedging Activities | Derivative Instruments and Hedging Activities We enter into derivative instruments for risk management purposes only, including derivatives designated as hedging instruments as required by FASB ASC Topic 815, Derivatives and Hedging, and those utilized as economic hedges. Our use of derivative instruments is currently limited to interest rate hedges. These instruments are generally structured as hedges of the variability of cash flows related to forecasted transactions (cash flow hedges). We do not enter into derivative instruments for trading or speculative purposes, where changes in the cash flows of the derivative are not expected to offset changes in cash flows of the hedged item. All derivatives are recognized on the balance sheet at fair value. For those derivative instruments for which we intend to elect hedge accounting, at the time the derivative contract is entered into, we document all relationships between hedging instruments and hedged items, as well as our risk-management objective and strategy for undertaking the various hedge transactions. This process includes linking all derivatives designated as cash flow hedges to specific assets and liabilities on the Consolidated Balance Sheets or to specific forecasted transactions. We also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivatives used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. To the extent our derivatives are effective in offsetting the variability of the hedged cash flows, and otherwise meet the cash flow hedge accounting criteria in accordance with GAAP, changes in the derivatives’ fair value are not included in current earnings but are included in accumulated other comprehensive income (loss), net of tax. These changes in fair value will be reclassified into earnings at the time of the forecasted transaction. Ineffectiveness measured in the hedging relationship is recorded in earnings in the period in which it occurs. See Note 7 - Derivative Financial Instruments for additional information. |
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| Other Assets and Liabilities | Other Assets and Liabilities Other assets primarily consist of right of use operating lease assets, pre-acquisition costs, prepaid assets, food and beverage inventories for use by our Kerrow operating subsidiary, escrow deposits, and accounts receivable. Other liabilities primarily consist of accrued compensation, accrued interest, accrued operating expenses, intangible real estate liabilities, and operating lease liabilities. See Note 8 - Supplemental detail for certain components of the Consolidated Balance Sheets |
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| Leases, Lessee | Leases All significant lease arrangements are generally recognized at lease commencement. For leases where the Company is the lessee, operating or finance lease right-of-use (“ROU”) assets and lease liabilities are recognized at commencement based on the present value of lease payments over the lease term. ROU assets represent our right to use an underlying asset during the reasonably certain lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term. As part of certain real estate investment transactions, the Company may enter into long-term ground leases as a lessee. The Company recognizes a ground lease (or right-of-use) asset and related lease liability for each of these ground leases. Ground lease assets and lease liabilities are recognized based on the present value of the lease payments. The Company uses its estimated incremental borrowing rate, which is the estimated rate at which the Company could borrow on a collateralized basis with similar payments over a similar term, in determining the present value of the lease payments. |
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| Leases, Lessor | For leases where Company is the lessor, we determine the classification upon commencement. At December 31, 2024, all such leases are classified as operating leases. These operating leases may contain both lease and non-lease components. The Company accounts for lease and non-lease components as a single component. The Company expenses certain initial direct costs that are not incremental in obtaining a lease. See Note 5 - Leases for additional information. |
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| Revenue Recognition | Revenue Recognition Rental revenue For those net leases that provide for periodic and determinable increases in base rent, base rental revenue is recognized on a straight-line basis over the applicable lease term when collectability is reasonably assured. Recognizing rental income on a straight-line basis generally results in recognized revenues during the first half of a lease term exceeding the cash amounts contractually due from our tenants, creating a deferred rent receivable. In certain circumstances, the Company may offer tenant allowance funds in exchange for increasing rent, extending the term, and including annual sales reporting among other items. These tenant allowance funds are classified as lease incentives upon payment and are amortized as a reduction to revenue over the lease term. Lease incentives are included in Intangible real estate assets, net, on our Consolidated Balance Sheets. During the years ended December 31, 2024 and 2023, the Company paid lease incentives of $1.6 million and $1.2 million, respectively, to tenants. We assess the collectability of our lease receivables, including deferred rents receivable, on several factors, including payment history, the financial strength of the tenant and any guarantors, historical operations and operating trends of the property, and current economic conditions. If our evaluation of these factors indicates it is not probable that we will be able to recover substantially all of the receivable, we derecognize the deferred rent receivable asset and record that amount as a reduction in rental revenue. If we determine the lease receivable will not be collected due to a credit concern, we reduce the recorded revenue for the period and related accounts receivable. For those leases that provide for periodic increases in base rent only if certain revenue parameters or other substantive contingencies are met, the increased rental revenue is recognized as the related parameters or contingencies are met, rather than on a straight-line basis over the applicable lease term. Costs paid by the lessor and reimbursed by the lessees are included in variable lease payments and presented on a gross basis within rental revenue. Sales taxes collected from lessees and remitted to governmental authorities are presented on a net basis within rental revenue. Restaurant revenue Restaurant revenue represents food, beverage, and other products sold and is presented net of the following discounts: coupons, employee meals, and complimentary meals. Revenue from restaurant sales, whether received in cash or by credit card, is recognized when food and beverage products are sold. At December 31, 2024 and 2023, credit card receivables, included in other assets, totaled $239 thousand and $293 thousand, respectively. We recognize sales from our gift cards when the gift card is redeemed by the customer. Sales taxes collected from customers and remitted to governmental authorities are presented on a net basis within restaurant revenue on our Income Statements. |
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| Restaurant Expenses | Restaurant Expenses Restaurant expenses include restaurant labor, general and administrative expenses, and food and beverage costs. Food and beverage costs include inventory, warehousing, related purchasing and distribution costs. Vendor allowances received in connection with the purchase of a vendor’s products are recognized as a reduction of the related food and beverage costs as earned. |
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| Gain on Sale, Net | Gain on Sale, Net The Company recognizes gain (loss) on sale, net of real estate in accordance with FASB ASU No. 2017-05, “Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets.” The Company evaluates each transaction to determine if control of the asset, as well as other specified criteria, has been transferred to the buyer to determine proper timing of revenue recognition, as well as transaction price allocation. |
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| Earnings Per Share | Earnings Per Share Basic earnings per share (“EPS”) are computed by dividing net income allocated to common shareholders by the weighted- average number of common shares outstanding for the reporting period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. No effect is shown for any securities that are anti-dilutive. Net income allocated to common shareholders represents net income less income allocated to participating securities and non-controlling interests. None of the Company’s equity awards are participating securities. See Note 10 - Equity for additional information. |
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| Noncontrolling Interest | Noncontrolling Interest Noncontrolling interest represents the aggregate limited partnership interests in FCPT OP held by third parties. In accordance with GAAP, the noncontrolling interest of FCPT OP is shown as a component of equity on our Consolidated Balance Sheets, and the portion of income allocable to third parties is shown as net income attributable to noncontrolling interests in our Income Statements and consolidated statements of comprehensive income (“Comprehensive Income Statement”). The Company follows the guidance issued by the FASB regarding the classification and measurement of redeemable securities. At FCPT OP’s option, it may satisfy this redemption with cash or by exchanging non-registered shares of FCPT common stock on a one-for-one basis. Accordingly, the Company has determined that the common OP units meet the requirements to be classified as permanent equity. A reconciliation of equity attributable to noncontrolling interest is disclosed in our Consolidated Statements of Changes in Equity. See Note 10 - Equity for additional information. |
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| Income Taxes | Income Taxes We believe that we have been organized and have operated in conformity with the requirements for qualification and taxation as a REIT commencing with our taxable year ended December 31, 2016, and we intend to continue to operate in a manner that will enable us to maintain our qualification as a REIT. So long as we qualify as a REIT, we generally will not be subject to U.S. federal income tax on our net income. To maintain our qualification as a REIT, we are required under the Code to distribute at least 90% of our REIT taxable income (without regard to the deduction for dividends paid and excluding net capital gains) to our shareholders and meet certain other requirements. If we fail to qualify as a REIT in any taxable year, we will be subject to U.S. federal income tax on our taxable income at regular corporate rates. Even if we qualify as a REIT, we are subject to certain state, local and franchise taxes. Under certain circumstances, U.S. federal income and excise taxes may be due on our undistributed taxable income. The Kerrow Restaurant Operating Business is a TRS and is taxed as a C corporation. We provide for federal and state income taxes currently payable as well as for those deferred because of temporary differences between reporting income and expenses for financial statement purposes versus tax purposes. Federal income tax credits are recorded as a reduction of income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. Interest recognized on reserves for uncertain tax positions is included in interest, net in our Consolidated Statements of Comprehensive Income. A corresponding liability for accrued interest is included as a component of other liabilities on our Consolidated Balance Sheets. Penalties, when incurred, are recognized in general and administrative expenses. We estimate certain components of our provision for income taxes. These estimates include, among other items, depreciation and amortization expense allowable for tax purposes, allowable tax credits for items such as taxes paid on reported employee tip income, effective rates for state and local income taxes and the valuation and tax deductibility of certain other items. We adjust our annual effective income tax rate as additional information on outcomes or events becomes available. We base our estimates on the best available information at the time that we prepare the provision. We will generally file our annual income tax returns several months after our year end. Income tax returns are subject to audit by state and local governments, generally years after the returns are filed. These returns could be subject to material adjustments or differing interpretations of the tax laws. The major jurisdictions in which we will file income tax returns are the U.S. federal jurisdiction and all states in the U.S. in which we own properties that have an income tax. U.S. GAAP requires that a position taken or expected to be taken in a tax return be recognized (or derecognized) in the financial statements when it is more likely than not (i.e., a likelihood of more than 50 percent) that the position would be sustained upon examination by tax authorities. A recognized tax position is then measured at the largest amount of benefit that is greater than 50 percent likely of being realized upon ultimate settlement. We include within our current tax provision the balance of unrecognized tax benefits related to tax positions for which it is reasonably possible that the total amounts could change during the next 12 months based on the outcome of examinations. See Note 9 - Income Taxes for additional information. |
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| Stock-Based Compensation | Stock-Based Compensation The Company’s stock-based compensation plan provides for the grant of restricted stock awards (“RSAs”), deferred stock units (“DSUs”), performance-based awards including performance stock units (“PSUs”), dividend equivalents (“DEUs”), restricted stock units (“RSUs”), and other types of awards to eligible participants. DEUs are earned during the vesting period and received upon vesting of award. Upon forfeiture of an award, DEUs earned during the vesting period are also forfeited. We classify stock-based payment awards either as equity awards or liability awards based upon cash settlement options. Equity classified awards are measured based on the fair value on the date of grant. Liability classified awards are remeasured to fair value each reporting period. We recognize costs resulting from the Company’s stock-based compensation awards on a straight- line basis over their vesting periods, which range between one and five years. No compensation cost is recognized for awards for which employees do not render the requisite services. See Note 11 - Stock-based Compensation for additional information. |
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| Fair Value of Financial Instruments | Fair Value of Financial Instruments We use a fair value approach to value certain assets and liabilities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. We use a fair value hierarchy, which distinguishes between assumptions based on market data (observable inputs) and an entity's own assumptions (unobservable inputs). The hierarchy consists of three levels: • Level 1 - Quoted market prices in active markets for identical assets or liabilities; • Level 2 - Inputs other than level 1 inputs that are either directly or indirectly observable; and •
Level 3 - Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use. |
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| Application of New Accounting Standards | Application of New Accounting Standards We consider the applicability and impact of all ASUs issued by the FASB. Other than as disclosed below, ASUs not yet adopted were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated result of operations, financial position and cash flows. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”, which expands reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The amendments in the ASU require, among other things, disclosure of significant segment expenses that are regularly provided to an entity's chief operating decision maker (“CODM”) and a description of other segment items (the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss) by reportable segment, as well as disclosure of the title and position of the CODM, and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. Annual disclosures are required for fiscal years beginning after December 15, 2023 and interim disclosures are required for periods within fiscal years beginning after December 15, 2024. Retrospective application is required. We adopted this guidance for the annual period ending December 31, 2024 on a retrospective basis. We updated our segment disclosures to comply with the requirements. The adoption of the standard did not have an impact on our financial position, results of operations, or liquidity. See Note 14 - Segments for additional information. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”, which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign) among other changes. The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but retrospective application is permitted. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. In November 2024, the FASB issued ASU 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures", which requires, among other things, the following for public business entities: (i) tabular disclosure of amounts for the following categories that are included in each expense caption within continuing operations on the statement of operations, with each expense caption that includes one of these expense categories deemed a relevant expense caption: (a) purchases of inventory, (b) employee compensation, (c) depreciation, (d) intangible asset amortization and (e) depreciation, depletion, and amortization recognized as part of oil-and gas-producing activities; (ii) disclosure of certain amounts that are already required to be disclosed under current GAAP in the same disclosure as the other disaggregation requirements; (iii) qualitative description of the amount remaining in relevant expense captions that are not separately disaggregated quantitatively; and (iv) disclosure of the total amount of selling expenses and, in annual reporting periods, an entity's definition of selling expenses. The provisions of ASU 2024-03 are effective for annual periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027; early adoption is permitted. Entities must apply the updates in ASU 2024-03 prospectively and are permitted to apply the updates retrospectively. We are currently evaluating the potential impact of adopting this new guidance on our consolidated financial statements and related disclosures. |
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Reconciliation of Cash and Cash Equivalents and Restricted Cash | The following table provides a reconciliation of cash, cash equivalents, and restricted cash in our Consolidated Balance Sheets to the total amount shown in our Consolidated Statements of Cash Flows.
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REAL ESTATE INVESTMENTS, NET AND INTANGIBLE ASSETS AND LIABILITIES, NET (Tables) |
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| Real Estate [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Real Estate Investments, Net | Real estate investments, net, which consist of land, buildings and improvements leased to others subject to net operating leases and those utilized in the operations of Kerrow Restaurant Operating Business is summarized as follows:
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| Schedule of Intangible Assets | The following tables detail intangible real estate assets and liabilities. Intangible real estate liabilities are included in Other liabilities on our Consolidated Balance Sheets. Acquired in-place lease intangibles are amortized over the remaining lease term as depreciation and amortization expense. Above-market and below-market leases are amortized over the initial term of the respective leases as an adjustment to rental revenue.
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| Schedule of Intangible Liabilities |
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| Schedule of Intangible Assets, Future Amortization Expense | The following table presents the estimated net impact during the next five years and thereafter related to the amortization of in-place lease intangibles, and above-market and below-market lease intangibles for properties held in investment.
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LEASES (Tables) |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Operating Lease Liability Maturities | Maturities of operating lease liabilities were as follows:
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| Schedule of Components of Rental Revenue | The following table shows the components of rental revenue.
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| Schedule of Future Minimum Lease Payments to be Received | The following table presents the scheduled minimum future contractual rent to be received under the remaining non-cancelable term of the operating leases. The table presents future minimum lease payments due during the initial lease term only as lease renewal periods are exercisable at the option of the lessee.
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DEBT, NET OF DEFERRED FINANCING COSTS (Tables) |
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Term Loans and Notes Payable | The following table presents the Term Loan balances.
(a) Loan is a variable-rate loan which resets daily at Daily Simple + 10 bps + applicable credit spread of 0.95% to 1.00% at December 31, 2024. (b) Loan has a 12 month extension exercisable at the Company's option, subject to certain conditions. (c) See Note 15 - Subsequent Events for additional information. The following table presents the senior unsecured fixed rate notes balance.
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| Schedule of Maturities of Long-Term Debt | The following presents scheduled principal payments related to the Company’s debt.
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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Swaps Held |
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| Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The table below presents the fair value of our derivative financial instruments as well as their classification on the Consolidated Balance Sheets.
Offsetting of Derivative Assets
Offsetting of Derivative Liabilities
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| Schedule of Derivative Instruments, Gain (Loss) | The table below presents the effect of our interest rate swaps on the Comprehensive Income Statement.
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SUPPLEMENTAL DETAIL FOR CERTAIN COMPONENTS OF CONSOLIDATED BALANCE SHEETS (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Other Assets | The components of Other assets were as follows:
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| Schedule of Other Liabilities | The components of Other liabilities were as follows:
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INCOME TAXES (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Components of Income Tax Expense (Benefit) | The income tax expense was composed as follows:
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| Schedule of Effective Income Tax Rate Reconciliation | The following table is a reconciliation of the U.S. statutory income tax rate to the effective income tax rate included in the accompanying Consolidated Income Statements:
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| Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that gave rise to deferred tax assets and liabilities were as follows:
(1)
These buildings and equipment in 2024, 2023, and 2022 relate to the Kerrow Restaurant Operating Business. |
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EQUITY (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Company's Activity Under the At-The-Market Program | The following tables present the Company’s activity under its ATM programs:
(1)
net proceeds, after sales commissions and offering expenses |
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| Schedule of Earnings Per Share, Basic and Diluted | The following table presents the computation of basic and diluted net earnings per common share for the years ended December 31, 2024, 2023, and 2022.
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STOCK-BASED COMPENSATION (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award | The unamortized compensation cost of awards issued under the Incentive Plan totaled $8.2 million at December 31, 2024 as shown in the following table. Equity Compensation Costs by Award Type
The following table summarizes the activities related to RSUs.
The following table summarizes the activities related to RSAs.
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FAIR VALUE MEASUREMENTS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Fair Value, Assets Measured on Recurring Basis | Derivative Assets and Liabilities Measured at Fair Value on a Recurring Basis
|
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| Schedule of Fair Value of Certain Financial Liabilities | The following table presents the carrying value and fair value of certain financial liabilities that are recorded on our Consolidated Balance Sheets. Fair Value of Certain Financial Liabilities
(1)
Term loan and senior note liabilities exclude deferred financing costs |
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SEGMENTS (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Segment Reporting Information, by Segment | The following table presents financial information for the real estate operations segment.
(1) Other segment items, net includes: compensation and related expenses, external services, other operating costs, property expenses, other income, net, and income tax expense The following table presents financial information for the restaurant operations segment.
Supplemental Segment Information at December 31, 2024
Supplemental Segment Information at December 31, 2023
Capital expenditures in our Consolidated Statements of Cash Flows relate to the real estate operations segment. |
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| Reconciliation of Segment Revenues and Segment Net Incomes to Total Revenues and Net Income | The following table reconciles the segment revenues to our total revenues.
The following table reconciles the segment net incomes to our net income.
|
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ORGANIZATION (Details) - Darden $ in Millions |
Nov. 09, 2015
USD ($)
Location
Brand
Property
|
|---|---|
| Separation And Spin-Off [Line Items] | |
| Equity interest contributed (as a percent) | 100 |
| Number of real estate properties | Property | 418 |
| Number of brands | Brand | 5 |
| Stockholder's equity, conversion ratio | 0.3333 |
| Revolving Credit and Term Loan | Secured Debt | |
| Separation And Spin-Off [Line Items] | |
| Acquisition of properties in exchange of common stock and cash | $ | $ 315.0 |
| Longhorn San Antonio Business | |
| Separation And Spin-Off [Line Items] | |
| Number of locations | Location | 6 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Segment Reporting (Details) - Segment |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
| Number of operating segments | 2 | 2 | 2 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Real Estate Investments, Net (Details) |
Dec. 31, 2024 |
|---|---|
| Minimum | Building and Building Improvements | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 7 years |
| Minimum | Equipment | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 2 years |
| Maximum | Building and Building Improvements | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 55 years |
| Maximum | Equipment | |
| Property, Plant and Equipment [Line Items] | |
| Useful life (in years) | 15 years |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Impairment of Long-Lived Assets (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
| Impairment expense | $ 0 | $ 0 | $ 0 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Real Estate Held For Sale (Details) - Property |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
| Assets held for sale disposal period (in years) | 1 year | |
| Number of properties held for sale | 0 | 0 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|---|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
| Cash and cash equivalents | $ 4,081 | $ 16,322 | $ 26,296 | |
| Restricted cash (included in Other assets) | 0 | 8,461 | 0 | |
| Total Cash, Cash Equivalents, and Restricted Cash | $ 4,081 | $ 24,783 | $ 26,296 | $ 6,300 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Disaggregation of Revenue [Line Items] | ||
| Lease incentives to tenants paid | $ 1,600 | $ 1,200 |
| Other Assets | ||
| Disaggregation of Revenue [Line Items] | ||
| Credit card receivables | $ 239 | $ 293 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Application of New Accounting Standards (Details) - Accounting Standards Update 2023-07 |
Dec. 31, 2024 |
|---|---|
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
| Change in accounting principle, accounting standards update, adopted [true false] | true |
| Change in accounting principle, accounting standards update, adoption date | Dec. 31, 2024 |
| Change in accounting principle, accounting standards update, immaterial effect [true false] | false |
CONCENTRATION OF CREDIT RISK (Details) $ in Millions |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2024
USD ($)
State
Restaurant
|
Dec. 31, 2023
USD ($)
|
|
| Concentration Risk [Line Items] | ||
| Number of restaurants | Restaurant | 314 | |
| Number of states in which entity operates | State | 47 | |
| Derivative instrument obligation | $ 20.3 | $ 18.0 |
| Revolving Credit Facility | ||
| Concentration Risk [Line Items] | ||
| Line of credit facility, current borrowing capacity | $ 245.0 | |
| Lease Revenue | Darden | Customer Concentration Risk | ||
| Concentration Risk [Line Items] | ||
| Concentration risk (as a percent) | 47.70% | |
| Lease Revenue | Olive Garden | Customer Concentration Risk | ||
| Concentration Risk [Line Items] | ||
| Concentration risk (as a percent) | 34.20% | |
| Leased Properties | Olive Garden | Customer Concentration Risk | ||
| Concentration Risk [Line Items] | ||
| Concentration risk (as a percent) | 26.20% |
REAL ESTATE INVESTMENTS, NET AND INTANGIBLE ASSETS AND LIABILITIES, NET - Intangible Real Estate Liabilities, Net (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Real Estate [Abstract] | ||
| Below-market leases | $ 2,610 | $ 2,610 |
| Less: accumulated amortization | (1,621) | (1,414) |
| Intangible Real Estate Liabilities, Net | $ 989 | $ 1,196 |
REAL ESTATE INVESTMENTS, NET AND INTANGIBLE ASSETS AND LIABILITIES, NET - Amortization Expense (Details) $ in Thousands |
Dec. 31, 2024
USD ($)
|
|---|---|
| Real Estate [Abstract] | |
| 2025 | $ 17,341 |
| 2026 | 15,567 |
| 2027 | 13,186 |
| 2028 | 8,645 |
| 2029 | 10,723 |
| Thereafter | 35,205 |
| Total Future Amortization Expense | $ 100,667 |
LEASES - Narrative (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
Groundlease
| |
| Leases [Abstract] | |
| Number of ground leases | 2 |
LEASES - Operating Lease Liability Maturities (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Leases [Abstract] | ||
| 2025 | $ 470 | |
| 2026 | 310 | |
| 2027 | 319 | |
| 2028 | 319 | |
| 2029 | 319 | |
| Thereafter | 4,113 | |
| Total Payments | 5,850 | |
| Less: Interest | (1,736) | |
| Operating Lease Liability | $ 4,114 | $ 4,642 |
LEASES - Operating Lease Liability, Narrative (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Leases [Abstract] | |||
| Weighted average discount rate (as a percent) | 4.45% | ||
| Weighted average remaining lease term (in years) | 15 years 9 months 18 days | ||
| Rent expense | $ 918 | $ 910 | $ 890 |
LEASES - Components of Rental Revenue (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Leases [Abstract] | |||
| Lease revenue - operating leases | $ 227,588 | $ 210,433 | $ 187,026 |
| Variable lease revenue (tenant reimbursements) | 9,546 | 9,448 | 6,585 |
| Total Rental Revenue | $ 237,134 | $ 219,881 | $ 193,611 |
| Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration] | Advance Rent | ||
LEASES - Future Minimum Lease Payments to be Received (Details) $ in Thousands |
Dec. 31, 2024
USD ($)
|
|---|---|
| Operating Leases, Lessor | |
| 2025 | $ 239,980 |
| 2026 | 232,034 |
| 2027 | 179,575 |
| 2028 | 205,940 |
| 2029 | 239,750 |
| Thereafter | 804,026 |
| Total Future Minimum Lease Payments | $ 1,901,305 |
LEASES - Ground Leases as Lessee (Details) $ in Thousands |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2024
USD ($)
Groundlease
|
Dec. 31, 2023
USD ($)
|
|
| Lessee, Lease, Description [Line Items] | ||
| Finance ground lease assets | $ 14,040 | $ 14,040 |
| Number of leases excluded from option to extend lease terms | Groundlease | 2 | |
| Ground Lease | ||
| Lessee, Lease, Description [Line Items] | ||
| Finance ground lease assets | $ 13,900 | $ 14,000 |
| Options to extend lease terms | 99 years | |
| Weighted average remaining non-cancelable lease term (in years) | 89 years | |
| Ground Lease | Minimum | ||
| Lessee, Lease, Description [Line Items] | ||
| Ground lease remaining term (in years) | 59 years | |
| Ground Lease | Maximum | ||
| Lessee, Lease, Description [Line Items] | ||
| Ground lease remaining term (in years) | 94 years |
DEBT, NET OF DEFERRED FINANCING COSTS - Narrative (Details) - USD ($) |
Dec. 31, 2024 |
Mar. 11, 2024 |
Dec. 31, 2023 |
|---|---|---|---|
| Debt Instrument [Line Items] | |||
| Long-term debt, gross | $ 1,145,000,000 | ||
| Letters of credit outstanding, amount | 0 | $ 0 | |
| Revolving Credit Facility | |||
| Debt Instrument [Line Items] | |||
| Long-term debt, gross | 5,000,000 | $ 16,000,000 | |
| Line of credit facility, current borrowing capacity | $ 245,000,000 | ||
| Weighted average interest rate (as a percent) | 5.46% | 6.46% | |
| Term Loan | |||
| Debt Instrument [Line Items] | |||
| Long-term debt, gross | $ 515,000,000 | $ 430,000,000 | |
| Debt instrument, face amount | $ 85,000,000 | ||
| Weighted average interest rate (as a percent) | 5.62% | 6.40% | |
| Unsecured Debt | The Notes | |||
| Debt Instrument [Line Items] | |||
| Long-term debt, gross | $ 625,000,000 | $ 675,000,000 |
DEBT, NET OF DEFERRED FINANCING COSTS - Term Loans (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Debt Instrument [Line Items] | ||
| Outstanding Balance | $ 1,145,000 | |
| Term Loan | ||
| Debt Instrument [Line Items] | ||
| Outstanding Balance | $ 515,000 | $ 430,000 |
| Term Loan | Term loan due 2025 | ||
| Debt Instrument [Line Items] | ||
| Maturity Date | 2025-11 | |
| Interest Rate | 5.65% | |
| Outstanding Balance | $ 150,000 | 150,000 |
| Term Loan | Term loan due 2026 | ||
| Debt Instrument [Line Items] | ||
| Maturity Date | 2026-11 | |
| Interest Rate | 5.65% | |
| Outstanding Balance | $ 100,000 | 100,000 |
| Term Loan | Term loan due 2027 | ||
| Debt Instrument [Line Items] | ||
| Maturity Date | 2027-01 | |
| Interest Rate | 5.60% | |
| Outstanding Balance | $ 90,000 | 90,000 |
| Term Loan | Term loan due 2027 | ||
| Debt Instrument [Line Items] | ||
| Maturity Date | 2027-03 | |
| Interest Rate | 5.60% | |
| Outstanding Balance | $ 85,000 | 0 |
| Term Loan | Term loan due 2028 | ||
| Debt Instrument [Line Items] | ||
| Maturity Date | 2028-01 | |
| Interest Rate | 5.60% | |
| Outstanding Balance | $ 90,000 | $ 90,000 |
DEBT, NET OF DEFERRED FINANCING COSTS - Term Loans (Parenthetical) (Details) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Mar. 14, 2024 |
|
| Debt Instrument [Line Items] | ||
| Basis spread on variable rate (as a percent) | 10.00% | |
| Term loan due 2027 | Term Loan | ||
| Debt Instrument [Line Items] | ||
| Extension option, term (in months) | 12 months | 12 months |
| Minimum | ||
| Debt Instrument [Line Items] | ||
| Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | us-gaap:SecuredOvernightFinancingRateSofrMember | |
| Variable rate (as a percent) | 0.95% | |
| Maximum | ||
| Debt Instrument [Line Items] | ||
| Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration] | us-gaap:SecuredOvernightFinancingRateSofrMember | |
| Variable rate (as a percent) | 1.00% |
DEBT, NET OF DEFERRED FINANCING COSTS - Debt Maturities (Details) $ in Thousands |
Dec. 31, 2024
USD ($)
|
|---|---|
| Debt Disclosure [Abstract] | |
| 2025 | $ 155,000 |
| 2026 | 150,000 |
| 2027 | 250,000 |
| 2028 | 140,000 |
| 2029 | 100,000 |
| Thereafter | 350,000 |
| Total Scheduled Principal Payments | $ 1,145,000 |
DEBT, NET OF DEFERRED FINANCING COSTSs - Deferred Financing Costs (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Debt Instrument [Line Items] | |||
| Amortization of financing costs | $ 2,597 | $ 2,311 | $ 2,104 |
| Term Loan and Revolving Credit Facility | |||
| Debt Instrument [Line Items] | |||
| Net unamortized deferred financing costs | 3,700 | 4,300 | |
| Amortization of financing costs | 1,900 | 1,600 | 1,500 |
| Unsecured Debt | |||
| Debt Instrument [Line Items] | |||
| Net unamortized deferred financing costs | 3,400 | 4,100 | |
| Amortization of financing costs | $ 700 | $ 700 | $ 600 |
DEBT, NET OF DEFERRED FINANCING COSTS - Debt Covenants (Details) - Revolving Credit and Term Loan Agreement |
Dec. 31, 2024 |
|---|---|
| Debt Instrument [Line Items] | |
| Ratio of indebtedness to net capital | 60.00% |
| Mortgage secured leverage ratio | 40.00% |
| Fixed charge coverage ratio | 1.5 |
| Unencumbered leverage percent | 60.00% |
| Unencumbered interest coverage ratio | 1.75 |
DERIVATIVE FINANCIAL INSTRUMENTS - Derivatives Balance Sheet (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Derivatives, Fair Value [Line Items] | ||
| Derivative Assets | $ 20,733 | $ 20,952 |
| Derivative Liabilities | 473 | 2,968 |
| Designated as Hedging Instrument | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative Assets | 20,733 | 20,952 |
| Derivative Liabilities | 473 | 2,968 |
| Designated as Hedging Instrument | Interest rate swaps | Derivative assets | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative Assets | 20,733 | 20,952 |
| Designated as Hedging Instrument | Interest rate swaps | Derivative liabilities | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative Liabilities | $ 473 | $ 2,968 |
DERIVATIVE FINANCIAL INSTRUMENTS - Derivatives Offsetting (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Offsetting of Derivative Assets | ||
| Gross Amounts of Recognized Assets | $ 20,733 | $ 20,952 |
| Gross Amounts Offset in the Consolidated Balance Sheets | 0 | 0 |
| Net Amounts of Assets Presented in the Consolidated Balance Sheets | 20,733 | 20,952 |
| Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (350) | (920) |
| Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | 0 |
| Net Amount | 20,383 | 20,032 |
| Offsetting of Derivative Liabilities | ||
| Gross Amounts of Recognized Liabilities | 473 | 2,968 |
| Gross Amounts Offset in the Consolidated Balance Sheets | 0 | 0 |
| Net Amounts of Liabilities Presented in the Consolidated Balance Sheets | 473 | 2,968 |
| Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (350) | (920) |
| Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Posted | 0 | 0 |
| Net Amount | $ 123 | $ 2,048 |
SUPPLEMENTAL DETAIL FOR CERTAIN COMPONENTS OF CONSOLIDATED BALANCE SHEETS - Other Assets (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
| Restricted cash | $ 0 | $ 8,461 | $ 0 |
| Operating lease right-of-use asset | 3,402 | 3,923 | |
| Accounts receivable | 3,477 | 2,985 | |
| Prepaid acquisition costs and deposits | 1,222 | 1,364 | |
| Prepaid assets | 1,522 | 1,176 | |
| Inventories | 221 | 238 | |
| Other | 1,606 | 1,711 | |
| Total Other Assets | $ 11,450 | $ 19,858 | |
| Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Total Other Assets | Total Other Assets |
SUPPLEMENTAL DETAIL FOR CERTAIN COMPONENTS OF CONSOLIDATED BALANCE SHEETS - Other Liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
| Tenant deposits | $ 1,015 | $ 7,835 |
| Accrued interest expense | 7,498 | 7,424 |
| Operating lease liability | 4,114 | 4,642 |
| Accrued compensation | 2,752 | 3,020 |
| Accrued tenant property tax | 2,505 | 2,518 |
| Accounts payable | 931 | 1,263 |
| Intangible real estate liabilities, net | 989 | 1,196 |
| Accrued operating expenses | 254 | 262 |
| Other | 1,720 | 2,106 |
| Total Other Liabilities | $ 21,778 | $ 30,266 |
| Operating Lease, Liability, Statement of Financial Position [Extensible List] | Total Other Liabilities | Total Other Liabilities |
INCOME TAXES - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Current: | |||
| Federal | $ 31 | $ 0 | $ 0 |
| Current state and local | 477 | 389 | 362 |
| Total current | 508 | 389 | 362 |
| Deferred: | |||
| Federal deferred | (200) | (259) | (125) |
| State deferred | 0 | 0 | 0 |
| Total deferred | (200) | (259) | (125) |
| Total Income Tax Expense | $ 308 | $ 130 | $ 237 |
INCOME TAXES - Income Tax Rate Reconciliation (Details) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Income Tax Disclosure [Abstract] | |||
| U.S. statutory rate | 21.00% | 21.00% | 21.00% |
| Current benefit | (20.90%) | (20.90%) | (20.80%) |
| State and local income taxes, net of federal tax benefits | 0.40% | 0.40% | 0.30% |
| Benefit of federal income tax credits | (0.20%) | (0.30%) | (0.20%) |
| Other | 0.00% | (0.10%) | (0.10%) |
| Valuation allowance | 0.00% | 0.00% | 0.00% |
| Permanent differences | 0.00% | 0.00% | 0.00% |
| Effective Income Tax Rate | 0.30% | 0.10% | 0.20% |
INCOME TAXES - Schedule of Deferred Taxes Reconciliation (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||
|---|---|---|---|---|---|
| Income Tax Disclosure [Abstract] | |||||
| Compensation and employee benefits | $ 35 | $ 33 | $ 32 | ||
| Charitable contribution and credit carryforwards | 1,877 | 1,704 | 1,366 | ||
| Net operating losses | 0 | 15 | 60 | ||
| Lease payable | 147 | 144 | 141 | ||
| UNICAP | 13 | 14 | 15 | ||
| Gross deferred tax assets | 2,072 | 1,910 | 1,614 | ||
| Prepaid expenses | (13) | 0 | (14) | ||
| Buildings and equipment | [1] | (611) | (662) | (612) | |
| Gross deferred tax liabilities | (624) | (662) | (626) | ||
| Net Deferred Tax Assets | $ 1,448 | $ 1,248 | $ 988 | ||
| |||||
EQUITY - Noncontrolling Interest (Details) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2024
USD ($)
shares
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
|
| Noncontrolling Interest [Line Items] | |||
| Outstanding number of units (in shares) | shares | 114,559 | ||
| Redeemable noncontrolling interest, convertible shares, conversion ratio | 1 | ||
| Redemption value | $ 3,100 | $ 2,900 | $ 3,000 |
| Four Corners Property Trust | |||
| Noncontrolling Interest [Line Items] | |||
| Noncontrolling interest, ownership percentage by parent | 99.89% | ||
| Noncontrolling interest, ownership percentage by noncontrolling owners | 0.11% | ||
| Distribution to limited partners | $ 159 |
EQUITY - Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Equity [Abstract] | |||
| Average common shares outstanding – basic (in shares) | 93,643,129 | 88,526,343 | 81,590,124 |
| Net effect of dilutive stock based compensation (in shares) | 421,369 | 220,685 | 216,941 |
| Average common shares outstanding – diluted (in shares) | 94,064,498 | 88,747,028 | 81,807,065 |
| Net Income (Loss) | $ 100,473 | $ 95,340 | $ 97,772 |
| Basic net earnings per share (in usd per share) | $ 1.07 | $ 1.08 | $ 1.2 |
| Diluted net earnings per share (in usd per share) | $ 1.07 | $ 1.07 | $ 1.2 |
| Antidilutive securities excluded from computation of earnings per share, amount (in shares) | 424,533 | 274,384 | 262,600 |
| Weighted average units of partnership interest, amount (in shares) | 114,559 | 114,559 | 114,559 |
STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Jun. 10, 2022 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Increase in number of shares reserved for future issuance (in shares) | 1,500,000 | |||
| Maximum number of shares reserved for future issuance (in shares) | 3,600,000 | |||
| Shares available for grant (in shares) | 1,431,588 | |||
| Unrecognized compensation cost | $ 8,156 | $ 7,462 | ||
| Period for recognition (in years) | 1 year 9 months 18 days | |||
| Restricted Stock Units | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Unrecognized compensation cost | $ 1,861 | 1,672 | ||
| Period for recognition (in years) | 5 years | |||
| Average closing market price, common stock, period | 5 days | |||
| Compensation cost not yet recognized | $ 1,500 | 1,900 | $ 1,600 | |
| Restricted Stock Units | Minimum | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Vesting period | 1 year | |||
| Restricted Stock Units | Maximum | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Vesting period | 5 years | |||
| Restricted Stock Awards | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Unrecognized compensation cost | $ 3,129 | 3,142 | ||
| Period for recognition (in years) | 3 years | |||
| Compensation cost not yet recognized | $ 3,100 | $ 2,900 | $ 2,400 |
STOCK-BASED COMPENSATION - Unamortized Compensation Cost of Awards (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2024
USD ($)
| |
| Share-based Payment Arrangement, Cost Not yet Recognized [Roll Forward] | |
| Unrecognized compensation cost, beginning balance | $ 7,462 |
| Equity grants | 8,377 |
| Equity grant forfeitures | (696) |
| Equity compensation expense | (6,987) |
| Unrecognized compensation cost, ending balance | 8,156 |
| Restricted Stock Units | |
| Share-based Payment Arrangement, Cost Not yet Recognized [Roll Forward] | |
| Unrecognized compensation cost, beginning balance | 1,672 |
| Equity grants | 1,974 |
| Equity grant forfeitures | (322) |
| Equity compensation expense | (1,463) |
| Unrecognized compensation cost, ending balance | 1,861 |
| Restricted Stock Awards | |
| Share-based Payment Arrangement, Cost Not yet Recognized [Roll Forward] | |
| Unrecognized compensation cost, beginning balance | 3,142 |
| Equity grants | 3,339 |
| Equity grant forfeitures | (274) |
| Equity compensation expense | (3,078) |
| Unrecognized compensation cost, ending balance | 3,129 |
| Performance Stock Units | |
| Share-based Payment Arrangement, Cost Not yet Recognized [Roll Forward] | |
| Unrecognized compensation cost, beginning balance | 2,648 |
| Equity grants | 3,064 |
| Equity grant forfeitures | (100) |
| Equity compensation expense | (2,446) |
| Unrecognized compensation cost, ending balance | $ 3,166 |
STOCK-BASED COMPENSATION - Restricted Stock Units (Details) - Restricted Stock Units - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Units | |||
| Outstanding at beginning of period (in shares) | 191,081 | 206,786 | 159,524 |
| Units granted (in shares) | 80,997 | 53,238 | 77,424 |
| Units vested (in shares) | (16,621) | (68,943) | (22,635) |
| Units forfeited (in shares) | (11,772) | 0 | (7,527) |
| Outstanding at end of period (in shares) | 243,685 | 191,081 | 206,786 |
| Weighted Average Grant Date Fair Value | |||
| Outstanding at beginning of period (in usd per share) | $ 26.83 | $ 26.6 | $ 26.53 |
| Units granted (in usd per share) | 24.39 | 27 | 26.87 |
| Units vested (in usd per share) | 26.78 | 26.28 | 27.08 |
| Units forfeited (in usd per share) | 27.37 | 0 | 26.57 |
| Outstanding at end of period (in usd per share) | $ 26 | $ 26.83 | $ 26.6 |
STOCK-BASED COMPENSATION - Restricted Stock Awards (Details) - Restricted Stock Awards - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Units | |||
| Outstanding at beginning of period (in shares) | 198,636 | 157,030 | 113,695 |
| Units granted (in shares) | 137,983 | 128,852 | 119,471 |
| Units vested (in shares) | (100,447) | (86,213) | (72,101) |
| Units forfeited (in shares) | (10,590) | (1,033) | (4,035) |
| Outstanding at end of period (in shares) | 225,582 | 198,636 | 157,030 |
| Weighted Average Grant Date Fair Value | |||
| Outstanding at beginning of period (in usd per share) | $ 27.67 | $ 27.25 | $ 27.58 |
| Units granted (in usd per share) | 24.14 | 28.14 | 26.99 |
| Units vested (in usd per share) | 27.31 | 27.61 | 27.33 |
| Units forfeited (in usd per share) | 25.92 | 27.66 | 27.24 |
| Outstanding at end of period (in usd per share) | $ 25.75 | $ 27.67 | $ 27.25 |
STOCK-BASED COMPENSATION - Performance-Based Restricted Stock Awards (Details) - Performance Stock Units $ / shares in Units, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2024
USD ($)
Days
$ / shares
shares
|
Dec. 31, 2023
USD ($)
$ / shares
shares
|
Dec. 31, 2022
USD ($)
$ / shares
shares
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Granted (in shares) | 95,682 | 87,700 | 66,369 |
| Weighted average grant date fair value (in usd per share) | $ / shares | $ 32.48 | $ 37.5 | $ 18.63 |
| Shares vested in period (in shares) | 73,023 | ||
| Shares forfeited in period (in shares) | 3,309 | ||
| Percentage of target shares issuance | 0.00% | ||
| Total issuance of shares (in shares) | 0 | ||
| Threshold trading days | Days | 20 | ||
| Stockholder return period | 3 years | 3 years | 3 years |
| Volatility rate | 21.90% | 51.20% | 49.50% |
| Risk free interest rate | 4.09% | ||
| Dividend yield (as a percent) | 0.00% | 0.00% | 0.00% |
| Compensation expenses | $ | $ 2.4 | $ 1.5 | $ 1.0 |
| Three-Year Treasury Rate | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Risk free interest rate | 3.76% | 2.50% | |
| Minimum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Multiplier, percentage | 0 | ||
| Maximum | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Multiplier, percentage | 200 | ||
FAIR VALUE MEASUREMENTS - Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Assets | $ 20,733 | $ 20,952 |
| Derivative Liabilities | 473 | 2,968 |
| Fair Value, Measurements, Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Assets | 20,733 | 20,952 |
| Derivative Liabilities | 473 | 2,968 |
| Fair Value, Measurements, Recurring | Level 1 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Assets | 0 | 0 |
| Derivative Liabilities | 0 | 0 |
| Fair Value, Measurements, Recurring | Level 2 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Assets | 20,733 | 20,952 |
| Derivative Liabilities | 473 | 2,968 |
| Fair Value, Measurements, Recurring | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Derivative Assets | 0 | 0 |
| Derivative Liabilities | $ 0 | $ 0 |
FAIR VALUE MEASUREMENTS - Financial Liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
||
|---|---|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | $ 1,145,000 | |||
| Term Loan | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | 515,000 | $ 430,000 | ||
| Term Loan | Term loan due March 2027 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | 85,000 | 0 | ||
| Term Loan | Term loan due January 2028 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | 90,000 | 90,000 | ||
| Carrying Value | Term Loan | Term Loan Due November 2025 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 150,000 | 150,000 | |
| Carrying Value | Term Loan | Term loan due November 2026 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 100,000 | 100,000 | |
| Carrying Value | Term Loan | Term loan due January 2027 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 90,000 | 90,000 | |
| Carrying Value | Term Loan | Term loan due March 2027 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 85,000 | 0 | |
| Carrying Value | Term Loan | Term loan due January 2028 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 90,000 | 90,000 | |
| Carrying Value | Senior Notes | Senior fixed note due June 2024 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 0 | 50,000 | |
| Carrying Value | Senior Notes | Senior note due December 2026 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 50,000 | 50,000 | |
| Carrying Value | Senior Notes | Senior note due June 2027 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 75,000 | 75,000 | |
| Carrying Value | Senior Notes | Senior note due December 2028 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 50,000 | 50,000 | |
| Carrying Value | Senior Notes | Senior note due April 2029 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 50,000 | 50,000 | |
| Carrying Value | Senior Notes | Senior note due June 2029 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 50,000 | 50,000 | |
| Carrying Value | Senior Notes | Senior note due April 2030 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 75,000 | 75,000 | |
| Carrying Value | Senior Notes | Senior note due March 2031 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 50,000 | 50,000 | |
| Carrying Value | Senior Notes | Senior note due April 2031 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 50,000 | 50,000 | |
| Carrying Value | Senior Notes | Senior note due March 2032 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 75,000 | 75,000 | |
| Carrying Value | Senior Notes | Senior note due July 2033 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 100,000 | 100,000 | |
| Carrying Value | Line of Credit | Outstanding revolver borrowings | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Carrying value of Debt | [1] | 5,000 | 16,000 | |
| Fair Value | Term Loan | Term Loan Due November 2025 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 149,913 | 149,496 | ||
| Fair Value | Term Loan | Term loan due November 2026 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 100,112 | 99,799 | ||
| Fair Value | Term Loan | Term loan due January 2027 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 89,902 | 89,524 | ||
| Fair Value | Term Loan | Term loan due March 2027 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 86,027 | 0 | ||
| Fair Value | Term Loan | Term loan due January 2028 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 90,744 | 89,208 | ||
| Fair Value | Senior Notes | Senior fixed note due June 2024 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 0 | 49,641 | ||
| Fair Value | Senior Notes | Senior note due December 2026 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 49,432 | 49,227 | ||
| Fair Value | Senior Notes | Senior note due June 2027 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 74,248 | 74,282 | ||
| Fair Value | Senior Notes | Senior note due December 2028 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 48,788 | 49,195 | ||
| Fair Value | Senior Notes | Senior note due April 2029 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 45,003 | 44,742 | ||
| Fair Value | Senior Notes | Senior note due June 2029 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 45,566 | 45,473 | ||
| Fair Value | Senior Notes | Senior note due April 2030 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 67,137 | 67,262 | ||
| Fair Value | Senior Notes | Senior note due March 2031 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 42,733 | 43,313 | ||
| Fair Value | Senior Notes | Senior note due April 2031 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 43,172 | 43,441 | ||
| Fair Value | Senior Notes | Senior note due March 2032 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 63,965 | 64,818 | ||
| Fair Value | Senior Notes | Senior note due July 2033 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | 105,308 | 109,521 | ||
| Fair Value | Line of Credit | Outstanding revolver borrowings | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Fair value of long-term debt | $ 4,997 | $ 15,946 | ||
| ||||
SEGMENTS - Narrative (Details) |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2024
Restaurant
Segment
|
Dec. 31, 2023
Segment
|
Dec. 31, 2022
Segment
|
|
| Segment Reporting Information [Line Items] | |||
| Number of operating segments | Segment | 2 | 2 | 2 |
| Number of restaurants | 314 | ||
| Longhorn San Antonio Business | |||
| Segment Reporting Information [Line Items] | |||
| Number of restaurants | 7 | ||
SEGMENTS - Income by Segment (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Revenues: | |||
| Operations revenue | $ 30,939 | $ 30,725 | $ 29,583 |
| Total revenues | 268,073 | 250,606 | 223,194 |
| Reconciliation to Segment net income: | |||
| Realized gain on sale, net | 0 | 2,341 | 8,139 |
| Income tax (expense) benefit | (308) | (130) | (237) |
| Net income | 100,595 | 95,462 | 97,908 |
| Real Estate Operations | |||
| Revenues: | |||
| Total revenues | 236,264 | 217,276 | 190,236 |
| Reconciliation to Segment net income: | |||
| Net income | 100,454 | 94,939 | 97,733 |
| Restaurant Operations | |||
| Revenues: | |||
| Total revenues | 30,939 | 30,725 | 29,583 |
| Reconciliation to Segment net income: | |||
| Net income | 141 | 523 | 175 |
| Operating Segments | Real Estate Operations | |||
| Revenues: | |||
| Total revenues | 236,264 | 217,276 | 190,236 |
| Operating expenses: | |||
| Interest expense | 46,634 | 42,295 | 34,301 |
| Other segment items, net | 27,723 | 27,267 | 22,718 |
| (AFFO) | 161,907 | 147,714 | 133,217 |
| Reconciliation to Segment net income: | |||
| Depreciation and amortization | (53,607) | (49,996) | (40,762) |
| Realized gain on sale, net | 0 | 2,341 | 8,139 |
| Stock-based compensation | (6,987) | (6,271) | (4,978) |
| Straight-line rent | 3,810 | 5,523 | 6,372 |
| Non-cash amortization of deferred financing costs | (2,597) | (2,311) | (2,104) |
| Other non-cash revenue adjustments | (2,072) | (2,061) | (2,151) |
| Net income | 100,454 | 94,939 | 97,733 |
| Operating Segments | Real Estate Operations | Real estate | |||
| Revenues: | |||
| Operations revenue | 236,264 | 217,276 | 190,236 |
| Operating Segments | Restaurant Operations | |||
| Revenues: | |||
| Total revenues | 30,939 | 30,725 | 29,583 |
| Operating expenses: | |||
| Cost of goods sold | 24,305 | 24,033 | 23,418 |
| Other segment items, net | 5,587 | 5,531 | 5,250 |
| EBITDA | 1,047 | 1,161 | 915 |
| Reconciliation to Segment net income: | |||
| Depreciation and amortization | (907) | (735) | (709) |
| Income tax (expense) benefit | 1 | 97 | (31) |
| Net income | 141 | 523 | 175 |
| Operating Segments | Restaurant Operations | Restaurant | |||
| Revenues: | |||
| Operations revenue | $ 30,939 | $ 30,725 | $ 29,583 |
SEGMENTS - Reconciliation of Segment Revenues to Total Revenues (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Segment Reporting Information [Line Items] | |||
| Total revenues | $ 268,073 | $ 250,606 | $ 223,194 |
| Real Estate Operations | |||
| Segment Reporting Information [Line Items] | |||
| Total revenues | 236,264 | 217,276 | 190,236 |
| Restaurant Operations | |||
| Segment Reporting Information [Line Items] | |||
| Total revenues | 30,939 | 30,725 | 29,583 |
| Other | |||
| Segment Reporting Information [Line Items] | |||
| Total revenues | $ 870 | $ 2,605 | $ 3,375 |
SEGMENTS - Reconciliation of Segment Net Incomes to Net Income (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Segment Reporting Information [Line Items] | |||
| Net income | $ 100,595 | $ 95,462 | $ 97,908 |
| Real Estate Operations [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Net income | 100,454 | 94,939 | 97,733 |
| Restaurant Operations [Member] | |||
| Segment Reporting Information [Line Items] | |||
| Net income | $ 141 | $ 523 | $ 175 |
SEGMENTS - Supplemental Information (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
|---|---|---|
| Segment Reporting Information [Line Items] | ||
| Total real estate investments | $ 3,198,644 | $ 2,949,421 |
| Accumulated depreciation | (775,505) | (738,946) |
| Total real estate investments, net | 2,423,139 | 2,210,475 |
| Cash and cash equivalents | 4,081 | 16,322 |
| Total assets | 2,653,026 | 2,451,634 |
| Total debt, net of deferred financing costs | 1,137,889 | 1,112,689 |
| Operating Segments | Real Estate Operations | ||
| Segment Reporting Information [Line Items] | ||
| Total real estate investments | 3,175,813 | 2,926,425 |
| Accumulated depreciation | (767,716) | (731,345) |
| Total real estate investments, net | 2,408,097 | 2,195,080 |
| Cash and cash equivalents | 2,985 | 14,776 |
| Total assets | 2,631,171 | 2,429,136 |
| Total debt, net of deferred financing costs | 1,137,889 | 1,112,689 |
| Operating Segments | Restaurant Operations | ||
| Segment Reporting Information [Line Items] | ||
| Total real estate investments | 22,831 | 22,996 |
| Accumulated depreciation | (7,789) | (7,601) |
| Total real estate investments, net | 15,042 | 15,395 |
| Cash and cash equivalents | 1,096 | 1,546 |
| Total assets | 21,855 | 22,498 |
| Total debt, net of deferred financing costs | $ 0 | $ 0 |
SUBSEQUENT EVENTS (Details) |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Feb. 13, 2025
USD ($)
Property
|
Jan. 31, 2025
USD ($)
|
Dec. 31, 2024
USD ($)
|
Mar. 14, 2024
USD ($)
|
Mar. 11, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|
| Subsequent Event [Line Items] | ||||||
| Long-term debt, gross | $ 1,145,000,000 | |||||
| Lease Properties | ||||||
| Subsequent Event [Line Items] | ||||||
| Contingent consideration | 0 | |||||
| Revolving Credit Facility | ||||||
| Subsequent Event [Line Items] | ||||||
| Line of credit facility, current borrowing capacity | 245,000,000 | |||||
| Long-term debt, gross | 5,000,000 | $ 16,000,000 | ||||
| Term Loan | ||||||
| Subsequent Event [Line Items] | ||||||
| Debt instrument, face amount | $ 85,000,000 | |||||
| Long-term debt, gross | $ 515,000,000 | 430,000,000 | ||||
| Term Loan | Term Loan Due 2025 [Member] | ||||||
| Subsequent Event [Line Items] | ||||||
| Maturity Date | 2025-11 | |||||
| Long-term debt, gross | $ 150,000,000 | 150,000,000 | ||||
| Term Loan | Term Loan Due 2026 [Member] | ||||||
| Subsequent Event [Line Items] | ||||||
| Long-term line of credit | $ 100,000,000 | |||||
| Maturity Date | 2026-11 | |||||
| Long-term debt, gross | $ 100,000,000 | 100,000,000 | ||||
| Term Loan | Term Loan Due 2027 [Member] | ||||||
| Subsequent Event [Line Items] | ||||||
| Long-term line of credit | $ 90,000,000 | |||||
| Maturity Date | 2027-01 | |||||
| Debt instrument, maturity year | 2027 | |||||
| Long-term debt, gross | $ 90,000,000 | 90,000,000 | ||||
| Term Loan | Term loan due March 2027 | ||||||
| Subsequent Event [Line Items] | ||||||
| Long-term line of credit | $ 85,000,000 | |||||
| Debt instrument, face amount | $ 85,000,000 | |||||
| Extension option, term | 12 months | 12 months | ||||
| Maturity Date | 2027-03 | |||||
| Debt instrument, maturity year | 2027 | |||||
| Long-term debt, gross | $ 85,000,000 | $ 0 | ||||
| Term Loan | Term Loan Due 2028 [Member] | ||||||
| Subsequent Event [Line Items] | ||||||
| Long-term line of credit | $ 90,000,000 | |||||
| Debt instrument, maturity year | 2028 | |||||
| Subsequent Event | ||||||
| Subsequent Event [Line Items] | ||||||
| Line of credit facility, current borrowing capacity | $ 765,000,000 | |||||
| Line of credit facility, maximum borrowing capacity | 940,000,000 | |||||
| Asset investment | $ 9,700,000 | |||||
| Number of properties acquired | Property | 2 | |||||
| Investment yield (as a percent) | 6.45% | |||||
| Remaining lease term (in years) | 12 years 9 months 18 days | |||||
| Subsequent Event | Revolving Credit Facility | ||||||
| Subsequent Event [Line Items] | ||||||
| Line of credit facility, maximum borrowing capacity | $ 350,000,000 | |||||
| Subsequent Event | Term Loan | Term Loan Due 2025 [Member] | ||||||
| Subsequent Event [Line Items] | ||||||
| Maturity Date | 2025-11 | |||||
| Long-term debt, gross | $ 150,000,000 | |||||
| Subsequent Event | Term Loan | Term Loan Due 2026 [Member] | ||||||
| Subsequent Event [Line Items] | ||||||
| Extension option, term | 1 year | |||||
| Subsequent Event | Term Loan | Term Loan Due 2029 [Member] | ||||||
| Subsequent Event [Line Items] | ||||||
| Debt instrument, face amount | $ 225,000,000 | |||||
| Extension option, term | 1 year | |||||
| Subsequent Event | Term Loan | Revolving Credit Facility | Term Loan Due 2029 [Member] | ||||||
| Subsequent Event [Line Items] | ||||||
| Maturity Date | 2029-02 |
SCHEDULE III- SCHEDULE OF REAL ESTATE ASSETS - Schedule III - 1 (Details) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
|
Dec. 31, 2024
USD ($)
Property
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
|||
| Initial Cost to Company | |||||
| Land | $ 1,335,397 | ||||
| Buildings and Improvements | 1,454,982 | ||||
| Equipment | 48,002 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 25,375 | |||
| Building and Improvements | [1] | 246,540 | |||
| Equipment | [1] | 88,348 | |||
| Gross Carrying Value | |||||
| Land | 1,360,772 | ||||
| Building and Improvements | 1,701,522 | ||||
| Equipment | 136,350 | ||||
| Total | 3,198,644 | $ 2,949,421 | $ 2,655,702 | ||
| Accumulated Depreciation | 775,505 | $ 738,946 | $ 706,702 | ||
| Aggregate cost of properties for federal income tax purposes | $ 3,200,000 | ||||
| Quick Service | Alabama | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 18 | ||||
| Initial Cost to Company | |||||
| Land | $ 17,464 | ||||
| Buildings and Improvements | 10,103 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 17,464 | ||||
| Building and Improvements | 10,103 | ||||
| Equipment | 0 | ||||
| Total | 27,567 | ||||
| Accumulated Depreciation | $ 2,319 | ||||
| Quick Service | Alabama | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Quick Service | Alabama | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Quick Service | Arizona | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,288 | ||||
| Buildings and Improvements | 1,402 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,288 | ||||
| Building and Improvements | 1,402 | ||||
| Equipment | 0 | ||||
| Total | 3,690 | ||||
| Accumulated Depreciation | $ 46 | ||||
| Quick Service | Arizona | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | Arizona | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Quick Service | California | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 979 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 979 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 979 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Quick Service | Colorado | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 4 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,615 | ||||
| Buildings and Improvements | 467 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | (127) | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,488 | ||||
| Building and Improvements | 467 | ||||
| Equipment | 0 | ||||
| Total | 3,955 | ||||
| Accumulated Depreciation | $ 154 | ||||
| Quick Service | Colorado | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Quick Service | Colorado | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Quick Service | Connecticut | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 5,383 | ||||
| Buildings and Improvements | 995 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 5,383 | ||||
| Building and Improvements | 995 | ||||
| Equipment | 0 | ||||
| Total | 6,378 | ||||
| Accumulated Depreciation | $ 110 | ||||
| Quick Service | Connecticut | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 14 years | ||||
| Quick Service | Connecticut | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 49 years | ||||
| Quick Service | Delaware | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,081 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,081 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 2,081 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Quick Service | Florida | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 4 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,624 | ||||
| Buildings and Improvements | 1,529 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 4,624 | ||||
| Building and Improvements | 1,529 | ||||
| Equipment | 0 | ||||
| Total | 6,153 | ||||
| Accumulated Depreciation | $ 326 | ||||
| Quick Service | Florida | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | Florida | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Quick Service | Georgia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 6 | ||||
| Initial Cost to Company | |||||
| Land | $ 6,674 | ||||
| Buildings and Improvements | 5,174 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 6,674 | ||||
| Building and Improvements | 5,174 | ||||
| Equipment | 0 | ||||
| Total | 11,848 | ||||
| Accumulated Depreciation | $ 1,232 | ||||
| Quick Service | Georgia | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | Georgia | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 52 years | ||||
| Quick Service | Illinois | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 12 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,300 | ||||
| Buildings and Improvements | 9,869 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 64 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 8,300 | ||||
| Building and Improvements | 9,933 | ||||
| Equipment | 0 | ||||
| Total | 18,233 | ||||
| Accumulated Depreciation | $ 1,614 | ||||
| Quick Service | Illinois | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Quick Service | Illinois | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Quick Service | Indiana | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 25 | ||||
| Initial Cost to Company | |||||
| Land | $ 18,229 | ||||
| Buildings and Improvements | 16,114 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 18,229 | ||||
| Building and Improvements | 16,114 | ||||
| Equipment | 0 | ||||
| Total | 34,343 | ||||
| Accumulated Depreciation | $ 3,737 | ||||
| Quick Service | Indiana | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Quick Service | Indiana | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 54 years | ||||
| Quick Service | Iowa | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 5,694 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 5,694 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 5,694 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Quick Service | Kansas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,071 | ||||
| Buildings and Improvements | 5,883 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 9 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 4,071 | ||||
| Building and Improvements | 5,892 | ||||
| Equipment | 0 | ||||
| Total | 9,963 | ||||
| Accumulated Depreciation | $ 437 | ||||
| Quick Service | Kansas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | Kansas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 30 years | ||||
| Quick Service | Kentucky | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 10 | ||||
| Initial Cost to Company | |||||
| Land | $ 9,211 | ||||
| Buildings and Improvements | 5,013 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 9,211 | ||||
| Building and Improvements | 5,013 | ||||
| Equipment | 0 | ||||
| Total | 14,224 | ||||
| Accumulated Depreciation | $ 1,153 | ||||
| Quick Service | Kentucky | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 7 years | ||||
| Quick Service | Kentucky | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Quick Service | Maryland | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,502 | ||||
| Buildings and Improvements | 2,834 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,502 | ||||
| Building and Improvements | 2,834 | ||||
| Equipment | 0 | ||||
| Total | 4,336 | ||||
| Accumulated Depreciation | $ 505 | ||||
| Quick Service | Maryland | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | Maryland | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 51 years | ||||
| Quick Service | Michigan | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 15 | ||||
| Initial Cost to Company | |||||
| Land | $ 6,758 | ||||
| Buildings and Improvements | 12,364 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 6,758 | ||||
| Building and Improvements | 12,364 | ||||
| Equipment | 0 | ||||
| Total | 19,122 | ||||
| Accumulated Depreciation | $ 2,996 | ||||
| Quick Service | Michigan | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 3 years | ||||
| Quick Service | Michigan | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 43 years | ||||
| Quick Service | Mississippi | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 8 | ||||
| Initial Cost to Company | |||||
| Land | $ 6,046 | ||||
| Buildings and Improvements | 10,480 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 6,046 | ||||
| Building and Improvements | 10,480 | ||||
| Equipment | 0 | ||||
| Total | 16,526 | ||||
| Accumulated Depreciation | $ 1,959 | ||||
| Quick Service | Mississippi | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | Mississippi | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 54 years | ||||
| Quick Service | Missouri | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,263 | ||||
| Buildings and Improvements | 1,362 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,263 | ||||
| Building and Improvements | 1,362 | ||||
| Equipment | 0 | ||||
| Total | 4,625 | ||||
| Accumulated Depreciation | $ 80 | ||||
| Quick Service | Missouri | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | Missouri | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 30 years | ||||
| Quick Service | New Mexico | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 307 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 307 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 307 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Quick Service | New York | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,858 | ||||
| Buildings and Improvements | 2,559 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,858 | ||||
| Building and Improvements | 2,559 | ||||
| Equipment | 0 | ||||
| Total | 5,417 | ||||
| Accumulated Depreciation | $ 369 | ||||
| Quick Service | New York | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 13 years | ||||
| Quick Service | New York | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 53 years | ||||
| Quick Service | North Carolina | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 11 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,334 | ||||
| Buildings and Improvements | 12,051 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 8,334 | ||||
| Building and Improvements | 12,051 | ||||
| Equipment | 0 | ||||
| Total | 20,385 | ||||
| Accumulated Depreciation | $ 2,544 | ||||
| Quick Service | North Carolina | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 9 years | ||||
| Quick Service | North Carolina | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Quick Service | Ohio | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 6 | ||||
| Initial Cost to Company | |||||
| Land | $ 5,555 | ||||
| Buildings and Improvements | 3,536 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 5,555 | ||||
| Building and Improvements | 3,536 | ||||
| Equipment | 0 | ||||
| Total | 9,091 | ||||
| Accumulated Depreciation | $ 739 | ||||
| Quick Service | Ohio | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Quick Service | Ohio | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 51 years | ||||
| Quick Service | Oklahoma | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,487 | ||||
| Buildings and Improvements | 2,479 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | (90) | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,487 | ||||
| Building and Improvements | 2,389 | ||||
| Equipment | 0 | ||||
| Total | 4,876 | ||||
| Accumulated Depreciation | $ 272 | ||||
| Quick Service | Oklahoma | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | Oklahoma | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 54 years | ||||
| Quick Service | Rhode Island | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,343 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,343 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 1,343 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Quick Service | South Carolina | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 7 | ||||
| Initial Cost to Company | |||||
| Land | $ 7,811 | ||||
| Buildings and Improvements | 4,619 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 7,811 | ||||
| Building and Improvements | 4,619 | ||||
| Equipment | 0 | ||||
| Total | 12,430 | ||||
| Accumulated Depreciation | $ 805 | ||||
| Quick Service | South Carolina | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | South Carolina | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Quick Service | Tennessee | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 8 | ||||
| Initial Cost to Company | |||||
| Land | $ 5,620 | ||||
| Buildings and Improvements | 9,489 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 5,620 | ||||
| Building and Improvements | 9,489 | ||||
| Equipment | 0 | ||||
| Total | 15,109 | ||||
| Accumulated Depreciation | $ 1,870 | ||||
| Quick Service | Tennessee | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Quick Service | Tennessee | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 55 years | ||||
| Quick Service | Texas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 8 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,270 | ||||
| Buildings and Improvements | 10,034 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 8,270 | ||||
| Building and Improvements | 10,034 | ||||
| Equipment | 0 | ||||
| Total | 18,304 | ||||
| Accumulated Depreciation | $ 1,783 | ||||
| Quick Service | Texas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | Texas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 54 years | ||||
| Quick Service | Utah | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,977 | ||||
| Buildings and Improvements | 1,157 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 26 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,003 | ||||
| Building and Improvements | 1,157 | ||||
| Equipment | 0 | ||||
| Total | 4,160 | ||||
| Accumulated Depreciation | $ 203 | ||||
| Quick Service | Utah | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Quick Service | Utah | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Quick Service | Virginia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,175 | ||||
| Buildings and Improvements | 2,269 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,175 | ||||
| Building and Improvements | 2,269 | ||||
| Equipment | 0 | ||||
| Total | 4,444 | ||||
| Accumulated Depreciation | $ 281 | ||||
| Quick Service | Virginia | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Quick Service | Virginia | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Quick Service | Wisconsin | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 10 | ||||
| Initial Cost to Company | |||||
| Land | $ 5,470 | ||||
| Buildings and Improvements | 10,282 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 5,470 | ||||
| Building and Improvements | 10,282 | ||||
| Equipment | 0 | ||||
| Total | 15,752 | ||||
| Accumulated Depreciation | $ 2,383 | ||||
| Quick Service | Wisconsin | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Quick Service | Wisconsin | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Casual Dining | Alabama | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 12 | ||||
| Initial Cost to Company | |||||
| Land | $ 16,334 | ||||
| Buildings and Improvements | 11,054 | ||||
| Equipment | 434 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 3,963 | |||
| Equipment | [1] | 1,609 | |||
| Gross Carrying Value | |||||
| Land | 16,334 | ||||
| Building and Improvements | 15,017 | ||||
| Equipment | 2,043 | ||||
| Total | 33,394 | ||||
| Accumulated Depreciation | $ 11,206 | ||||
| Casual Dining | Alabama | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Alabama | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 44 years | ||||
| Casual Dining | Arizona | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 13 | ||||
| Initial Cost to Company | |||||
| Land | $ 12,439 | ||||
| Buildings and Improvements | 18,563 | ||||
| Equipment | 1,202 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 2,592 | |||
| Equipment | [1] | 1,291 | |||
| Gross Carrying Value | |||||
| Land | 12,439 | ||||
| Building and Improvements | 21,155 | ||||
| Equipment | 2,493 | ||||
| Total | 36,087 | ||||
| Accumulated Depreciation | $ 13,128 | ||||
| Casual Dining | Arizona | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Arizona | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 46 years | ||||
| Casual Dining | Arkansas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 8 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,009 | ||||
| Buildings and Improvements | 9,799 | ||||
| Equipment | 1,144 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 766 | |||
| Building and Improvements | [1] | 3,059 | |||
| Equipment | [1] | 908 | |||
| Gross Carrying Value | |||||
| Land | 8,775 | ||||
| Building and Improvements | 12,858 | ||||
| Equipment | 2,052 | ||||
| Total | 23,685 | ||||
| Accumulated Depreciation | $ 9,914 | ||||
| Casual Dining | Arkansas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Arkansas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 46 years | ||||
| Casual Dining | California | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 13 | ||||
| Initial Cost to Company | |||||
| Land | $ 11,950 | ||||
| Buildings and Improvements | 14,676 | ||||
| Equipment | 931 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 1,231 | |||
| Building and Improvements | [1] | 7,324 | |||
| Equipment | [1] | 2,298 | |||
| Gross Carrying Value | |||||
| Land | 13,181 | ||||
| Building and Improvements | 22,000 | ||||
| Equipment | 3,229 | ||||
| Total | 38,410 | ||||
| Accumulated Depreciation | $ 18,483 | ||||
| Casual Dining | California | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | California | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 49 years | ||||
| Casual Dining | Colorado | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 18 | ||||
| Initial Cost to Company | |||||
| Land | $ 19,788 | ||||
| Buildings and Improvements | 16,656 | ||||
| Equipment | 538 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 571 | |||
| Building and Improvements | [1] | 7,104 | |||
| Equipment | [1] | 1,923 | |||
| Gross Carrying Value | |||||
| Land | 20,359 | ||||
| Building and Improvements | 23,760 | ||||
| Equipment | 2,461 | ||||
| Total | 46,580 | ||||
| Accumulated Depreciation | $ 14,924 | ||||
| Casual Dining | Colorado | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Colorado | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | Connecticut | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,669 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,669 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 1,669 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Casual Dining | Delaware | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,942 | ||||
| Buildings and Improvements | 4,046 | ||||
| Equipment | 222 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 1,461 | |||
| Equipment | [1] | 656 | |||
| Gross Carrying Value | |||||
| Land | 1,942 | ||||
| Building and Improvements | 5,507 | ||||
| Equipment | 878 | ||||
| Total | 8,327 | ||||
| Accumulated Depreciation | $ 4,300 | ||||
| Casual Dining | Delaware | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Delaware | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | Florida | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 69 | ||||
| Initial Cost to Company | |||||
| Land | $ 103,344 | ||||
| Buildings and Improvements | 89,882 | ||||
| Equipment | 4,013 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 3,053 | |||
| Building and Improvements | [1] | 33,581 | |||
| Equipment | [1] | 11,887 | |||
| Gross Carrying Value | |||||
| Land | 106,397 | ||||
| Building and Improvements | 123,463 | ||||
| Equipment | 15,900 | ||||
| Total | 245,760 | ||||
| Accumulated Depreciation | $ 77,724 | ||||
| Casual Dining | Florida | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Florida | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 53 years | ||||
| Casual Dining | Georgia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 50 | ||||
| Initial Cost to Company | |||||
| Land | $ 59,135 | ||||
| Buildings and Improvements | 69,110 | ||||
| Equipment | 4,351 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 634 | |||
| Building and Improvements | [1] | 12,885 | |||
| Equipment | [1] | 4,790 | |||
| Gross Carrying Value | |||||
| Land | 59,769 | ||||
| Building and Improvements | 81,995 | ||||
| Equipment | 9,141 | ||||
| Total | 150,905 | ||||
| Accumulated Depreciation | $ 49,409 | ||||
| Casual Dining | Georgia | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Georgia | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | Idaho | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,846 | ||||
| Buildings and Improvements | 2,500 | ||||
| Equipment | 207 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 1,136 | |||
| Equipment | [1] | 691 | |||
| Gross Carrying Value | |||||
| Land | 2,846 | ||||
| Building and Improvements | 3,636 | ||||
| Equipment | 898 | ||||
| Total | 7,380 | ||||
| Accumulated Depreciation | $ 3,466 | ||||
| Casual Dining | Idaho | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Idaho | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 42 years | ||||
| Casual Dining | Illinois | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 32 | ||||
| Initial Cost to Company | |||||
| Land | $ 48,318 | ||||
| Buildings and Improvements | 41,711 | ||||
| Equipment | 1,090 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 912 | |||
| Building and Improvements | [1] | 6,637 | |||
| Equipment | [1] | 2,619 | |||
| Gross Carrying Value | |||||
| Land | 49,230 | ||||
| Building and Improvements | 48,348 | ||||
| Equipment | 3,709 | ||||
| Total | 101,287 | ||||
| Accumulated Depreciation | $ 22,833 | ||||
| Casual Dining | Illinois | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Illinois | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | Indiana | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 21 | ||||
| Initial Cost to Company | |||||
| Land | $ 18,970 | ||||
| Buildings and Improvements | 28,350 | ||||
| Equipment | 973 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 12,453 | |||
| Equipment | [1] | 3,603 | |||
| Gross Carrying Value | |||||
| Land | 18,970 | ||||
| Building and Improvements | 40,803 | ||||
| Equipment | 4,576 | ||||
| Total | 64,349 | ||||
| Accumulated Depreciation | $ 23,751 | ||||
| Casual Dining | Indiana | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Indiana | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | Iowa | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 15 | ||||
| Initial Cost to Company | |||||
| Land | $ 13,393 | ||||
| Buildings and Improvements | 16,394 | ||||
| Equipment | 1,447 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 1,130 | |||
| Building and Improvements | [1] | 4,052 | |||
| Equipment | [1] | 1,353 | |||
| Gross Carrying Value | |||||
| Land | 14,523 | ||||
| Building and Improvements | 20,446 | ||||
| Equipment | 2,800 | ||||
| Total | 37,769 | ||||
| Accumulated Depreciation | $ 13,083 | ||||
| Casual Dining | Iowa | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Iowa | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 49 years | ||||
| Casual Dining | Kansas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,294 | ||||
| Buildings and Improvements | 7,789 | ||||
| Equipment | 598 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 3,286 | |||
| Equipment | [1] | 1,066 | |||
| Gross Carrying Value | |||||
| Land | 4,294 | ||||
| Building and Improvements | 11,075 | ||||
| Equipment | 1,664 | ||||
| Total | 17,033 | ||||
| Accumulated Depreciation | $ 8,703 | ||||
| Casual Dining | Kansas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Kansas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 47 years | ||||
| Casual Dining | Kentucky | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 14 | ||||
| Initial Cost to Company | |||||
| Land | $ 16,058 | ||||
| Buildings and Improvements | 25,655 | ||||
| Equipment | 1,074 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 2,095 | |||
| Building and Improvements | [1] | 2,540 | |||
| Equipment | [1] | 1,197 | |||
| Gross Carrying Value | |||||
| Land | 18,153 | ||||
| Building and Improvements | 28,195 | ||||
| Equipment | 2,271 | ||||
| Total | 48,619 | ||||
| Accumulated Depreciation | $ 12,222 | ||||
| Casual Dining | Kentucky | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Kentucky | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 47 years | ||||
| Casual Dining | Louisiana | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 11 | ||||
| Initial Cost to Company | |||||
| Land | $ 12,622 | ||||
| Buildings and Improvements | 18,534 | ||||
| Equipment | 1,013 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 2,554 | |||
| Equipment | [1] | 944 | |||
| Gross Carrying Value | |||||
| Land | 12,622 | ||||
| Building and Improvements | 21,088 | ||||
| Equipment | 1,957 | ||||
| Total | 35,667 | ||||
| Accumulated Depreciation | $ 10,969 | ||||
| Casual Dining | Louisiana | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Louisiana | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | Maine | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,217 | ||||
| Buildings and Improvements | 1,120 | ||||
| Equipment | 96 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 1,027 | |||
| Equipment | [1] | 282 | |||
| Gross Carrying Value | |||||
| Land | 1,217 | ||||
| Building and Improvements | 2,147 | ||||
| Equipment | 378 | ||||
| Total | 3,742 | ||||
| Accumulated Depreciation | $ 1,982 | ||||
| Casual Dining | Maine | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Maine | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 42 years | ||||
| Casual Dining | Maryland | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 21 | ||||
| Initial Cost to Company | |||||
| Land | $ 32,896 | ||||
| Buildings and Improvements | 20,261 | ||||
| Equipment | 863 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 6,041 | |||
| Equipment | [1] | 2,200 | |||
| Gross Carrying Value | |||||
| Land | 32,896 | ||||
| Building and Improvements | 26,302 | ||||
| Equipment | 3,063 | ||||
| Total | 62,261 | ||||
| Accumulated Depreciation | $ 17,011 | ||||
| Casual Dining | Maryland | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Maryland | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | Massachusetts | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,381 | ||||
| Buildings and Improvements | 2,097 | ||||
| Equipment | 90 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 665 | |||
| Equipment | [1] | 175 | |||
| Gross Carrying Value | |||||
| Land | 2,381 | ||||
| Building and Improvements | 2,762 | ||||
| Equipment | 265 | ||||
| Total | 5,408 | ||||
| Accumulated Depreciation | $ 2,383 | ||||
| Casual Dining | Massachusetts | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Massachusetts | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Casual Dining | Michigan | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 22 | ||||
| Initial Cost to Company | |||||
| Land | $ 17,802 | ||||
| Buildings and Improvements | 32,611 | ||||
| Equipment | 1,369 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 1,639 | |||
| Building and Improvements | [1] | 12,287 | |||
| Equipment | [1] | 3,786 | |||
| Gross Carrying Value | |||||
| Land | 19,441 | ||||
| Building and Improvements | 44,898 | ||||
| Equipment | 5,155 | ||||
| Total | 69,494 | ||||
| Accumulated Depreciation | $ 34,435 | ||||
| Casual Dining | Michigan | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Michigan | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 54 years | ||||
| Casual Dining | Minnesota | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 9 | ||||
| Initial Cost to Company | |||||
| Land | $ 7,182 | ||||
| Buildings and Improvements | 13,353 | ||||
| Equipment | 989 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 3,795 | |||
| Equipment | [1] | 1,423 | |||
| Gross Carrying Value | |||||
| Land | 7,182 | ||||
| Building and Improvements | 17,148 | ||||
| Equipment | 2,412 | ||||
| Total | 26,742 | ||||
| Accumulated Depreciation | $ 15,235 | ||||
| Casual Dining | Minnesota | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Minnesota | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 41 years | ||||
| Casual Dining | Mississippi | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 9 | ||||
| Initial Cost to Company | |||||
| Land | $ 10,715 | ||||
| Buildings and Improvements | 16,824 | ||||
| Equipment | 1,280 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 34 | |||
| Building and Improvements | [1] | 1,107 | |||
| Equipment | [1] | 407 | |||
| Gross Carrying Value | |||||
| Land | 10,749 | ||||
| Building and Improvements | 17,931 | ||||
| Equipment | 1,687 | ||||
| Total | 30,367 | ||||
| Accumulated Depreciation | $ 8,760 | ||||
| Casual Dining | Mississippi | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Mississippi | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | Missouri | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 9 | ||||
| Initial Cost to Company | |||||
| Land | $ 9,990 | ||||
| Buildings and Improvements | 10,361 | ||||
| Equipment | 452 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 4,032 | |||
| Equipment | [1] | 1,393 | |||
| Gross Carrying Value | |||||
| Land | 9,990 | ||||
| Building and Improvements | 14,393 | ||||
| Equipment | 1,845 | ||||
| Total | 26,228 | ||||
| Accumulated Depreciation | $ 10,037 | ||||
| Casual Dining | Missouri | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Missouri | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 42 years | ||||
| Casual Dining | Montana | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 479 | ||||
| Buildings and Improvements | 1,107 | ||||
| Equipment | 89 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 775 | |||
| Equipment | [1] | 301 | |||
| Gross Carrying Value | |||||
| Land | 479 | ||||
| Building and Improvements | 1,882 | ||||
| Equipment | 390 | ||||
| Total | 2,751 | ||||
| Accumulated Depreciation | $ 1,836 | ||||
| Casual Dining | Montana | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Montana | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 42 years | ||||
| Casual Dining | Nebraska | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,517 | ||||
| Buildings and Improvements | 3,008 | ||||
| Equipment | 171 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 1,859 | |||
| Equipment | [1] | 488 | |||
| Gross Carrying Value | |||||
| Land | 1,517 | ||||
| Building and Improvements | 4,867 | ||||
| Equipment | 659 | ||||
| Total | 7,043 | ||||
| Accumulated Depreciation | $ 4,040 | ||||
| Casual Dining | Nebraska | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Nebraska | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 42 years | ||||
| Casual Dining | Nevada | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 10 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,900 | ||||
| Buildings and Improvements | 13,185 | ||||
| Equipment | 365 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 1,215 | |||
| Building and Improvements | [1] | 5,927 | |||
| Equipment | [1] | 2,183 | |||
| Gross Carrying Value | |||||
| Land | 10,115 | ||||
| Building and Improvements | 19,112 | ||||
| Equipment | 2,548 | ||||
| Total | 31,775 | ||||
| Accumulated Depreciation | $ 12,951 | ||||
| Casual Dining | Nevada | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Nevada | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | New Hampshire | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,713 | ||||
| Buildings and Improvements | 3,270 | ||||
| Equipment | 225 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 1,756 | |||
| Equipment | [1] | 721 | |||
| Gross Carrying Value | |||||
| Land | 2,713 | ||||
| Building and Improvements | 5,026 | ||||
| Equipment | 946 | ||||
| Total | 8,685 | ||||
| Accumulated Depreciation | $ 4,474 | ||||
| Casual Dining | New Hampshire | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | New Hampshire | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 42 years | ||||
| Casual Dining | New Jersey | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 9,213 | ||||
| Buildings and Improvements | 8,120 | ||||
| Equipment | 388 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 603 | |||
| Equipment | [1] | 301 | |||
| Gross Carrying Value | |||||
| Land | 9,213 | ||||
| Building and Improvements | 8,723 | ||||
| Equipment | 689 | ||||
| Total | 18,625 | ||||
| Accumulated Depreciation | $ 3,523 | ||||
| Casual Dining | New Jersey | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | New Jersey | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 47 years | ||||
| Casual Dining | New Mexico | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 4 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,679 | ||||
| Buildings and Improvements | 7,383 | ||||
| Equipment | 476 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 146 | |||
| Equipment | [1] | 138 | |||
| Gross Carrying Value | |||||
| Land | 4,679 | ||||
| Building and Improvements | 7,529 | ||||
| Equipment | 614 | ||||
| Total | 12,822 | ||||
| Accumulated Depreciation | $ 3,346 | ||||
| Casual Dining | New Mexico | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | New Mexico | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | New York | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 17 | ||||
| Initial Cost to Company | |||||
| Land | $ 21,557 | ||||
| Buildings and Improvements | 18,624 | ||||
| Equipment | 1,299 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 5,650 | |||
| Equipment | [1] | 2,089 | |||
| Gross Carrying Value | |||||
| Land | 21,557 | ||||
| Building and Improvements | 24,274 | ||||
| Equipment | 3,388 | ||||
| Total | 49,219 | ||||
| Accumulated Depreciation | $ 17,738 | ||||
| Casual Dining | New York | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | New York | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | North Carolina | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 17 | ||||
| Initial Cost to Company | |||||
| Land | $ 20,642 | ||||
| Buildings and Improvements | 22,755 | ||||
| Equipment | 1,648 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 5,455 | |||
| Equipment | [1] | 2,313 | |||
| Gross Carrying Value | |||||
| Land | 20,642 | ||||
| Building and Improvements | 28,210 | ||||
| Equipment | 3,961 | ||||
| Total | 52,813 | ||||
| Accumulated Depreciation | $ 18,557 | ||||
| Casual Dining | North Carolina | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | North Carolina | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 55 years | ||||
| Casual Dining | North Dakota | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,356 | ||||
| Buildings and Improvements | 5,413 | ||||
| Equipment | 597 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 726 | |||
| Equipment | [1] | 319 | |||
| Gross Carrying Value | |||||
| Land | 2,356 | ||||
| Building and Improvements | 6,139 | ||||
| Equipment | 916 | ||||
| Total | 9,411 | ||||
| Accumulated Depreciation | $ 3,955 | ||||
| Casual Dining | North Dakota | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | North Dakota | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 48 years | ||||
| Casual Dining | Ohio | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 46 | ||||
| Initial Cost to Company | |||||
| Land | $ 44,927 | ||||
| Buildings and Improvements | 59,758 | ||||
| Equipment | 3,005 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 2,126 | |||
| Building and Improvements | [1] | 18,027 | |||
| Equipment | [1] | 6,499 | |||
| Gross Carrying Value | |||||
| Land | 47,053 | ||||
| Building and Improvements | 77,785 | ||||
| Equipment | 9,504 | ||||
| Total | 134,342 | ||||
| Accumulated Depreciation | $ 52,099 | ||||
| Casual Dining | Ohio | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Ohio | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 51 years | ||||
| Casual Dining | Oklahoma | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 13 | ||||
| Initial Cost to Company | |||||
| Land | $ 17,092 | ||||
| Buildings and Improvements | 16,553 | ||||
| Equipment | 969 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 2,661 | |||
| Equipment | [1] | 934 | |||
| Gross Carrying Value | |||||
| Land | 17,092 | ||||
| Building and Improvements | 19,214 | ||||
| Equipment | 1,903 | ||||
| Total | 38,209 | ||||
| Accumulated Depreciation | $ 10,580 | ||||
| Casual Dining | Oklahoma | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 22 years | ||||
| Casual Dining | Oklahoma | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | Oregon | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 761 | ||||
| Buildings and Improvements | 1,486 | ||||
| Equipment | 91 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 356 | |||
| Equipment | [1] | 200 | |||
| Gross Carrying Value | |||||
| Land | 761 | ||||
| Building and Improvements | 1,842 | ||||
| Equipment | 291 | ||||
| Total | 2,894 | ||||
| Accumulated Depreciation | $ 1,668 | ||||
| Casual Dining | Oregon | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Oregon | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 38 years | ||||
| Casual Dining | Pennsylvania | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 19 | ||||
| Initial Cost to Company | |||||
| Land | $ 21,726 | ||||
| Buildings and Improvements | 24,108 | ||||
| Equipment | 1,520 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 7,717 | |||
| Equipment | [1] | 2,717 | |||
| Gross Carrying Value | |||||
| Land | 21,726 | ||||
| Building and Improvements | 31,825 | ||||
| Equipment | 4,237 | ||||
| Total | 57,788 | ||||
| Accumulated Depreciation | $ 21,678 | ||||
| Casual Dining | Pennsylvania | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Pennsylvania | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | South Carolina | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 20 | ||||
| Initial Cost to Company | |||||
| Land | $ 28,658 | ||||
| Buildings and Improvements | 18,886 | ||||
| Equipment | 703 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 1,731 | |||
| Building and Improvements | [1] | 3,073 | |||
| Equipment | [1] | 1,218 | |||
| Gross Carrying Value | |||||
| Land | 30,389 | ||||
| Building and Improvements | 21,959 | ||||
| Equipment | 1,921 | ||||
| Total | 54,269 | ||||
| Accumulated Depreciation | $ 11,898 | ||||
| Casual Dining | South Carolina | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | South Carolina | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 53 years | ||||
| Casual Dining | South Dakota | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,212 | ||||
| Buildings and Improvements | 3,194 | ||||
| Equipment | 330 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 919 | |||
| Equipment | [1] | 220 | |||
| Gross Carrying Value | |||||
| Land | 1,212 | ||||
| Building and Improvements | 4,113 | ||||
| Equipment | 550 | ||||
| Total | 5,875 | ||||
| Accumulated Depreciation | $ 3,023 | ||||
| Casual Dining | South Dakota | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | South Dakota | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 46 years | ||||
| Casual Dining | Tennessee | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 26 | ||||
| Initial Cost to Company | |||||
| Land | $ 37,306 | ||||
| Buildings and Improvements | 50,365 | ||||
| Equipment | 2,151 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 892 | |||
| Building and Improvements | [1] | 3,764 | |||
| Equipment | [1] | 1,565 | |||
| Gross Carrying Value | |||||
| Land | 38,198 | ||||
| Building and Improvements | 54,129 | ||||
| Equipment | 3,716 | ||||
| Total | 96,043 | ||||
| Accumulated Depreciation | $ 20,408 | ||||
| Casual Dining | Tennessee | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Tennessee | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 51 years | ||||
| Casual Dining | Texas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 83 | ||||
| Initial Cost to Company | |||||
| Land | $ 98,585 | ||||
| Buildings and Improvements | 107,905 | ||||
| Equipment | 6,390 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 6,650 | |||
| Building and Improvements | [1] | 36,673 | |||
| Equipment | [1] | 14,018 | |||
| Gross Carrying Value | |||||
| Land | 105,235 | ||||
| Building and Improvements | 144,578 | ||||
| Equipment | 20,408 | ||||
| Total | 270,221 | ||||
| Accumulated Depreciation | $ 92,391 | ||||
| Casual Dining | Texas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Texas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 53 years | ||||
| Casual Dining | Utah | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,479 | ||||
| Buildings and Improvements | 714 | ||||
| Equipment | 128 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 24 | |||
| Building and Improvements | [1] | 805 | |||
| Equipment | [1] | 284 | |||
| Gross Carrying Value | |||||
| Land | 3,503 | ||||
| Building and Improvements | 1,519 | ||||
| Equipment | 412 | ||||
| Total | 5,434 | ||||
| Accumulated Depreciation | $ 1,608 | ||||
| Casual Dining | Utah | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Utah | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Casual Dining | Virginia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 20 | ||||
| Initial Cost to Company | |||||
| Land | $ 22,875 | ||||
| Buildings and Improvements | 27,310 | ||||
| Equipment | 986 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 250 | |||
| Building and Improvements | [1] | 5,894 | |||
| Equipment | [1] | 2,196 | |||
| Gross Carrying Value | |||||
| Land | 23,125 | ||||
| Building and Improvements | 33,204 | ||||
| Equipment | 3,182 | ||||
| Total | 59,511 | ||||
| Accumulated Depreciation | $ 18,887 | ||||
| Casual Dining | Virginia | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Virginia | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 49 years | ||||
| Casual Dining | Washington | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 6 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,975 | ||||
| Buildings and Improvements | 6,092 | ||||
| Equipment | 339 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 409 | |||
| Building and Improvements | [1] | 1,682 | |||
| Equipment | [1] | 768 | |||
| Gross Carrying Value | |||||
| Land | 5,384 | ||||
| Building and Improvements | 7,774 | ||||
| Equipment | 1,107 | ||||
| Total | 14,265 | ||||
| Accumulated Depreciation | $ 6,324 | ||||
| Casual Dining | Washington | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Washington | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Casual Dining | West Virginia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 6 | ||||
| Initial Cost to Company | |||||
| Land | $ 5,204 | ||||
| Buildings and Improvements | 9,316 | ||||
| Equipment | 772 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 1,564 | |||
| Equipment | [1] | 647 | |||
| Gross Carrying Value | |||||
| Land | 5,204 | ||||
| Building and Improvements | 10,880 | ||||
| Equipment | 1,419 | ||||
| Total | 17,503 | ||||
| Accumulated Depreciation | $ 7,000 | ||||
| Casual Dining | West Virginia | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | West Virginia | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Casual Dining | Wisconsin | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 11 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,963 | ||||
| Buildings and Improvements | 12,256 | ||||
| Equipment | 984 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 114 | |||
| Building and Improvements | [1] | 5,034 | |||
| Equipment | [1] | 1,721 | |||
| Gross Carrying Value | |||||
| Land | 9,077 | ||||
| Building and Improvements | 17,290 | ||||
| Equipment | 2,705 | ||||
| Total | 29,072 | ||||
| Accumulated Depreciation | $ 13,473 | ||||
| Casual Dining | Wisconsin | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Casual Dining | Wisconsin | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Medical Retail | Alabama | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 8 | ||||
| Initial Cost to Company | |||||
| Land | $ 6,745 | ||||
| Buildings and Improvements | 10,047 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 6,745 | ||||
| Building and Improvements | 10,047 | ||||
| Equipment | 0 | ||||
| Total | 16,792 | ||||
| Accumulated Depreciation | $ 31 | ||||
| Medical Retail | Alabama | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Alabama | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Medical Retail | Alaska | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 255 | ||||
| Buildings and Improvements | 461 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 255 | ||||
| Building and Improvements | 461 | ||||
| Equipment | 0 | ||||
| Total | 716 | ||||
| Accumulated Depreciation | $ 44 | ||||
| Medical Retail | Alaska | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Alaska | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 20 years | ||||
| Medical Retail | Arizona | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 410 | ||||
| Buildings and Improvements | 1,256 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 410 | ||||
| Building and Improvements | 1,256 | ||||
| Equipment | 0 | ||||
| Total | 1,666 | ||||
| Accumulated Depreciation | $ 110 | ||||
| Medical Retail | Arizona | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Arizona | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | Arkansas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,401 | ||||
| Buildings and Improvements | 2,500 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 16 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,401 | ||||
| Building and Improvements | 2,516 | ||||
| Equipment | 0 | ||||
| Total | 3,917 | ||||
| Accumulated Depreciation | $ 182 | ||||
| Medical Retail | Arkansas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Arkansas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | Connecticut | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,265 | ||||
| Buildings and Improvements | 1,917 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,265 | ||||
| Building and Improvements | 1,917 | ||||
| Equipment | 0 | ||||
| Total | 3,182 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Medical Retail | Connecticut | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Connecticut | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | Florida | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,121 | ||||
| Buildings and Improvements | 4,150 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,121 | ||||
| Building and Improvements | 4,150 | ||||
| Equipment | 0 | ||||
| Total | 6,271 | ||||
| Accumulated Depreciation | $ 373 | ||||
| Medical Retail | Florida | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Florida | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | Georgia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 336 | ||||
| Buildings and Improvements | 2,024 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 336 | ||||
| Building and Improvements | 2,024 | ||||
| Equipment | 0 | ||||
| Total | 2,360 | ||||
| Accumulated Depreciation | $ 111 | ||||
| Medical Retail | Georgia | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Georgia | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | Illinois | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 7 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,642 | ||||
| Buildings and Improvements | 24,187 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 66 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 8,642 | ||||
| Building and Improvements | 24,253 | ||||
| Equipment | 0 | ||||
| Total | 32,895 | ||||
| Accumulated Depreciation | $ 1,374 | ||||
| Medical Retail | Illinois | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Illinois | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Medical Retail | Indiana | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 10 | ||||
| Initial Cost to Company | |||||
| Land | $ 10,739 | ||||
| Buildings and Improvements | 21,559 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 44 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 10,739 | ||||
| Building and Improvements | 21,603 | ||||
| Equipment | 0 | ||||
| Total | 32,342 | ||||
| Accumulated Depreciation | $ 819 | ||||
| Medical Retail | Indiana | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Indiana | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Medical Retail | Iowa | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 4 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,397 | ||||
| Buildings and Improvements | 6,684 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,397 | ||||
| Building and Improvements | 6,684 | ||||
| Equipment | 0 | ||||
| Total | 9,081 | ||||
| Accumulated Depreciation | $ 117 | ||||
| Medical Retail | Iowa | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Iowa | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | Kansas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,072 | ||||
| Buildings and Improvements | 2,877 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,072 | ||||
| Building and Improvements | 2,877 | ||||
| Equipment | 0 | ||||
| Total | 4,949 | ||||
| Accumulated Depreciation | $ 279 | ||||
| Medical Retail | Kansas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Kansas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Medical Retail | Louisiana | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 10 | ||||
| Initial Cost to Company | |||||
| Land | $ 7,596 | ||||
| Buildings and Improvements | 12,670 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 95 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 7,596 | ||||
| Building and Improvements | 12,765 | ||||
| Equipment | 0 | ||||
| Total | 20,361 | ||||
| Accumulated Depreciation | $ 1,027 | ||||
| Medical Retail | Louisiana | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Medical Retail | Louisiana | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Medical Retail | Michigan | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,691 | ||||
| Buildings and Improvements | 7,801 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,691 | ||||
| Building and Improvements | 7,801 | ||||
| Equipment | 0 | ||||
| Total | 10,492 | ||||
| Accumulated Depreciation | $ 535 | ||||
| Medical Retail | Michigan | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Michigan | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Medical Retail | Minnesota | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 554 | ||||
| Buildings and Improvements | 716 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 554 | ||||
| Building and Improvements | 716 | ||||
| Equipment | 0 | ||||
| Total | 1,270 | ||||
| Accumulated Depreciation | $ 139 | ||||
| Medical Retail | Minnesota | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Minnesota | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 20 years | ||||
| Medical Retail | Missouri | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 4 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,453 | ||||
| Buildings and Improvements | 7,160 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 67 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,453 | ||||
| Building and Improvements | 7,227 | ||||
| Equipment | 0 | ||||
| Total | 9,680 | ||||
| Accumulated Depreciation | $ 429 | ||||
| Medical Retail | Missouri | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Missouri | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Medical Retail | New Hampshire | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,120 | ||||
| Buildings and Improvements | 5,403 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,120 | ||||
| Building and Improvements | 5,403 | ||||
| Equipment | 0 | ||||
| Total | 8,523 | ||||
| Accumulated Depreciation | $ 196 | ||||
| Medical Retail | New Hampshire | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 15 years | ||||
| Medical Retail | New Hampshire | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Medical Retail | New Mexico | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 279 | ||||
| Buildings and Improvements | 1,498 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 279 | ||||
| Building and Improvements | 1,498 | ||||
| Equipment | 0 | ||||
| Total | 1,777 | ||||
| Accumulated Depreciation | $ 70 | ||||
| Medical Retail | New Mexico | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | New Mexico | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Medical Retail | New York | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 5,246 | ||||
| Buildings and Improvements | 6,356 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 3 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 5,246 | ||||
| Building and Improvements | 6,359 | ||||
| Equipment | 0 | ||||
| Total | 11,605 | ||||
| Accumulated Depreciation | $ 472 | ||||
| Medical Retail | New York | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | New York | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Medical Retail | North Carolina | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,309 | ||||
| Buildings and Improvements | 1,953 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 57 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,309 | ||||
| Building and Improvements | 2,010 | ||||
| Equipment | 0 | ||||
| Total | 3,319 | ||||
| Accumulated Depreciation | $ 188 | ||||
| Medical Retail | North Carolina | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | North Carolina | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | Ohio | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 5,108 | ||||
| Buildings and Improvements | 8,854 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 5,108 | ||||
| Building and Improvements | 8,854 | ||||
| Equipment | 0 | ||||
| Total | 13,962 | ||||
| Accumulated Depreciation | $ 593 | ||||
| Medical Retail | Ohio | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Ohio | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 39 years | ||||
| Medical Retail | Oklahoma | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 755 | ||||
| Buildings and Improvements | 902 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 755 | ||||
| Building and Improvements | 902 | ||||
| Equipment | 0 | ||||
| Total | 1,657 | ||||
| Accumulated Depreciation | $ 136 | ||||
| Medical Retail | Oklahoma | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Medical Retail | Oklahoma | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | Pennsylvania | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,491 | ||||
| Buildings and Improvements | 8,602 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 4,491 | ||||
| Building and Improvements | 8,602 | ||||
| Equipment | 0 | ||||
| Total | 13,093 | ||||
| Accumulated Depreciation | $ 383 | ||||
| Medical Retail | Pennsylvania | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Pennsylvania | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | South Carolina | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 912 | ||||
| Buildings and Improvements | 1,086 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 912 | ||||
| Building and Improvements | 1,086 | ||||
| Equipment | 0 | ||||
| Total | 1,998 | ||||
| Accumulated Depreciation | $ 67 | ||||
| Medical Retail | South Carolina | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | South Carolina | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Medical Retail | Tennessee | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 4 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,918 | ||||
| Buildings and Improvements | 11,361 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 4,918 | ||||
| Building and Improvements | 11,361 | ||||
| Equipment | 0 | ||||
| Total | 16,279 | ||||
| Accumulated Depreciation | $ 270 | ||||
| Medical Retail | Tennessee | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Tennessee | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Medical Retail | Texas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 6,629 | ||||
| Buildings and Improvements | 5,499 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 6,629 | ||||
| Building and Improvements | 5,499 | ||||
| Equipment | 0 | ||||
| Total | 12,128 | ||||
| Accumulated Depreciation | $ 281 | ||||
| Medical Retail | Texas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Texas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | Utah | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 562 | ||||
| Buildings and Improvements | 1,100 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 562 | ||||
| Building and Improvements | 1,100 | ||||
| Equipment | 0 | ||||
| Total | 1,662 | ||||
| Accumulated Depreciation | $ 128 | ||||
| Medical Retail | Utah | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Utah | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Medical Retail | Virginia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 130 | ||||
| Buildings and Improvements | 979 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 130 | ||||
| Building and Improvements | 979 | ||||
| Equipment | 0 | ||||
| Total | 1,109 | ||||
| Accumulated Depreciation | $ 74 | ||||
| Medical Retail | Virginia | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Virginia | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 25 years | ||||
| Medical Retail | Washington | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 356 | ||||
| Buildings and Improvements | 1,104 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 356 | ||||
| Building and Improvements | 1,104 | ||||
| Equipment | 0 | ||||
| Total | 1,460 | ||||
| Accumulated Depreciation | $ 75 | ||||
| Medical Retail | Washington | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Medical Retail | Washington | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 25 years | ||||
| Medical Retail | Wisconsin | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,004 | ||||
| Buildings and Improvements | 4,803 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,004 | ||||
| Building and Improvements | 4,803 | ||||
| Equipment | 0 | ||||
| Total | 6,807 | ||||
| Accumulated Depreciation | $ 429 | ||||
| Medical Retail | Wisconsin | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 7 years | ||||
| Medical Retail | Wisconsin | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Auto Service | Alabama | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,561 | ||||
| Buildings and Improvements | 3,856 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,561 | ||||
| Building and Improvements | 3,856 | ||||
| Equipment | 0 | ||||
| Total | 7,417 | ||||
| Accumulated Depreciation | $ 54 | ||||
| Auto Service | Alabama | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Alabama | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Auto Service | Alaska | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 617 | ||||
| Buildings and Improvements | 693 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 617 | ||||
| Building and Improvements | 693 | ||||
| Equipment | 0 | ||||
| Total | 1,310 | ||||
| Accumulated Depreciation | $ 119 | ||||
| Auto Service | Alaska | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Auto Service | Alaska | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 20 years | ||||
| Auto Service | Arkansas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,748 | ||||
| Buildings and Improvements | 1,647 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,748 | ||||
| Building and Improvements | 1,647 | ||||
| Equipment | 0 | ||||
| Total | 4,395 | ||||
| Accumulated Depreciation | $ 63 | ||||
| Auto Service | Arkansas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Arkansas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Auto Service | Colorado | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,817 | ||||
| Buildings and Improvements | 2,174 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 63 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 4,817 | ||||
| Building and Improvements | 2,237 | ||||
| Equipment | 0 | ||||
| Total | 7,054 | ||||
| Accumulated Depreciation | $ 103 | ||||
| Auto Service | Colorado | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Colorado | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Auto Service | Florida | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 4 | ||||
| Initial Cost to Company | |||||
| Land | $ 7,817 | ||||
| Buildings and Improvements | 4,959 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 7,817 | ||||
| Building and Improvements | 4,959 | ||||
| Equipment | 0 | ||||
| Total | 12,776 | ||||
| Accumulated Depreciation | $ 288 | ||||
| Auto Service | Florida | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Florida | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 44 years | ||||
| Auto Service | Georgia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 16 | ||||
| Initial Cost to Company | |||||
| Land | $ 18,480 | ||||
| Buildings and Improvements | 17,574 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 71 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 18,480 | ||||
| Building and Improvements | 17,645 | ||||
| Equipment | 0 | ||||
| Total | 36,125 | ||||
| Accumulated Depreciation | $ 1,259 | ||||
| Auto Service | Georgia | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Auto Service | Georgia | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Auto Service | Illinois | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 12 | ||||
| Initial Cost to Company | |||||
| Land | $ 16,751 | ||||
| Buildings and Improvements | 12,554 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 10 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 16,751 | ||||
| Building and Improvements | 12,564 | ||||
| Equipment | 0 | ||||
| Total | 29,315 | ||||
| Accumulated Depreciation | $ 1,127 | ||||
| Auto Service | Illinois | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 3 years | ||||
| Auto Service | Illinois | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Auto Service | Indiana | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 14 | ||||
| Initial Cost to Company | |||||
| Land | $ 18,513 | ||||
| Buildings and Improvements | 15,736 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 24 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 18,513 | ||||
| Building and Improvements | 15,760 | ||||
| Equipment | 0 | ||||
| Total | 34,273 | ||||
| Accumulated Depreciation | $ 1,299 | ||||
| Auto Service | Indiana | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Indiana | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 49 years | ||||
| Auto Service | Iowa | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,382 | ||||
| Buildings and Improvements | 1,255 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 22 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,382 | ||||
| Building and Improvements | 1,277 | ||||
| Equipment | 0 | ||||
| Total | 4,659 | ||||
| Accumulated Depreciation | $ 158 | ||||
| Auto Service | Iowa | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Auto Service | Iowa | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 30 years | ||||
| Auto Service | Kansas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 535 | ||||
| Buildings and Improvements | 795 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 535 | ||||
| Building and Improvements | 795 | ||||
| Equipment | 0 | ||||
| Total | 1,330 | ||||
| Accumulated Depreciation | $ 71 | ||||
| Auto Service | Kansas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Kansas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 30 years | ||||
| Auto Service | Kentucky | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,141 | ||||
| Buildings and Improvements | 1,920 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,141 | ||||
| Building and Improvements | 1,920 | ||||
| Equipment | 0 | ||||
| Total | 3,061 | ||||
| Accumulated Depreciation | $ 140 | ||||
| Auto Service | Kentucky | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Kentucky | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Auto Service | Louisiana | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 7 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,853 | ||||
| Buildings and Improvements | 7,171 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 8,853 | ||||
| Building and Improvements | 7,171 | ||||
| Equipment | 0 | ||||
| Total | 16,024 | ||||
| Accumulated Depreciation | $ 483 | ||||
| Auto Service | Louisiana | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Auto Service | Louisiana | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Auto Service | Maryland | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,512 | ||||
| Buildings and Improvements | 1,396 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,512 | ||||
| Building and Improvements | 1,396 | ||||
| Equipment | 0 | ||||
| Total | 4,908 | ||||
| Accumulated Depreciation | $ 154 | ||||
| Auto Service | Maryland | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Maryland | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Auto Service | Michigan | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 6 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,448 | ||||
| Buildings and Improvements | 7,402 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 81 | |||
| Equipment | [1] | 7 | |||
| Gross Carrying Value | |||||
| Land | 2,448 | ||||
| Building and Improvements | 7,483 | ||||
| Equipment | 7 | ||||
| Total | 9,938 | ||||
| Accumulated Depreciation | $ 766 | ||||
| Auto Service | Michigan | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Auto Service | Michigan | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 30 years | ||||
| Auto Service | Minnesota | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,464 | ||||
| Buildings and Improvements | 1,096 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,464 | ||||
| Building and Improvements | 1,096 | ||||
| Equipment | 0 | ||||
| Total | 2,560 | ||||
| Accumulated Depreciation | $ 156 | ||||
| Auto Service | Minnesota | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Minnesota | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Auto Service | Mississippi | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 7 | ||||
| Initial Cost to Company | |||||
| Land | $ 6,667 | ||||
| Buildings and Improvements | 5,745 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 6,667 | ||||
| Building and Improvements | 5,745 | ||||
| Equipment | 0 | ||||
| Total | 12,412 | ||||
| Accumulated Depreciation | $ 671 | ||||
| Auto Service | Mississippi | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Mississippi | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Auto Service | Missouri | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 9 | ||||
| Initial Cost to Company | |||||
| Land | $ 10,017 | ||||
| Buildings and Improvements | 9,392 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 10,017 | ||||
| Building and Improvements | 9,392 | ||||
| Equipment | 0 | ||||
| Total | 19,409 | ||||
| Accumulated Depreciation | $ 895 | ||||
| Auto Service | Missouri | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Missouri | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Auto Service | Nebraska | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,372 | ||||
| Buildings and Improvements | 1,347 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,372 | ||||
| Building and Improvements | 1,347 | ||||
| Equipment | 0 | ||||
| Total | 2,719 | ||||
| Accumulated Depreciation | $ 152 | ||||
| Auto Service | Nebraska | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 3 years | ||||
| Auto Service | Nebraska | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 30 years | ||||
| Auto Service | New Jersey | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,824 | ||||
| Buildings and Improvements | 1,682 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,824 | ||||
| Building and Improvements | 1,682 | ||||
| Equipment | 0 | ||||
| Total | 3,506 | ||||
| Accumulated Depreciation | $ 112 | ||||
| Auto Service | New Jersey | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | New Jersey | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 30 years | ||||
| Auto Service | New Mexico | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 515 | ||||
| Buildings and Improvements | 982 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 515 | ||||
| Building and Improvements | 982 | ||||
| Equipment | 0 | ||||
| Total | 1,497 | ||||
| Accumulated Depreciation | $ 79 | ||||
| Auto Service | New Mexico | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | New Mexico | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Auto Service | New York | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 6 | ||||
| Initial Cost to Company | |||||
| Land | $ 5,666 | ||||
| Buildings and Improvements | 6,984 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 458 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 5,666 | ||||
| Building and Improvements | 7,442 | ||||
| Equipment | 0 | ||||
| Total | 13,108 | ||||
| Accumulated Depreciation | $ 639 | ||||
| Auto Service | New York | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Auto Service | New York | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Auto Service | North Carolina | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 4 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,795 | ||||
| Buildings and Improvements | 4,080 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,795 | ||||
| Building and Improvements | 4,080 | ||||
| Equipment | 0 | ||||
| Total | 6,875 | ||||
| Accumulated Depreciation | $ 393 | ||||
| Auto Service | North Carolina | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | North Carolina | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Auto Service | Ohio | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 21 | ||||
| Initial Cost to Company | |||||
| Land | $ 21,644 | ||||
| Buildings and Improvements | 19,491 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 468 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 21,644 | ||||
| Building and Improvements | 19,959 | ||||
| Equipment | 0 | ||||
| Total | 41,603 | ||||
| Accumulated Depreciation | $ 2,546 | ||||
| Auto Service | Ohio | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Auto Service | Ohio | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Auto Service | Oklahoma | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,130 | ||||
| Buildings and Improvements | 2,667 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 8,130 | ||||
| Building and Improvements | 2,667 | ||||
| Equipment | 0 | ||||
| Total | 10,797 | ||||
| Accumulated Depreciation | $ 138 | ||||
| Auto Service | Oklahoma | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Oklahoma | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Auto Service | Pennsylvania | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,218 | ||||
| Buildings and Improvements | 1,898 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,218 | ||||
| Building and Improvements | 1,898 | ||||
| Equipment | 0 | ||||
| Total | 4,116 | ||||
| Accumulated Depreciation | $ 271 | ||||
| Auto Service | Pennsylvania | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Auto Service | Pennsylvania | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Auto Service | South Carolina | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,580 | ||||
| Buildings and Improvements | 1,232 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,580 | ||||
| Building and Improvements | 1,232 | ||||
| Equipment | 0 | ||||
| Total | 3,812 | ||||
| Accumulated Depreciation | $ 125 | ||||
| Auto Service | South Carolina | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | South Carolina | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 25 years | ||||
| Auto Service | Tennessee | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,621 | ||||
| Buildings and Improvements | 5,543 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,621 | ||||
| Building and Improvements | 5,543 | ||||
| Equipment | 0 | ||||
| Total | 8,164 | ||||
| Accumulated Depreciation | $ 362 | ||||
| Auto Service | Tennessee | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Tennessee | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Auto Service | Texas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 6 | ||||
| Initial Cost to Company | |||||
| Land | $ 5,797 | ||||
| Buildings and Improvements | 7,392 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 5,797 | ||||
| Building and Improvements | 7,392 | ||||
| Equipment | 0 | ||||
| Total | 13,189 | ||||
| Accumulated Depreciation | $ 654 | ||||
| Auto Service | Texas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Texas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Auto Service | Virginia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,759 | ||||
| Buildings and Improvements | 4,863 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 71 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 4,759 | ||||
| Building and Improvements | 4,934 | ||||
| Equipment | 0 | ||||
| Total | 9,693 | ||||
| Accumulated Depreciation | $ 383 | ||||
| Auto Service | Virginia | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Auto Service | Virginia | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 41 years | ||||
| Auto Service | Wisconsin | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,451 | ||||
| Buildings and Improvements | 5,731 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 13 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,451 | ||||
| Building and Improvements | 5,744 | ||||
| Equipment | 0 | ||||
| Total | 9,195 | ||||
| Accumulated Depreciation | $ 838 | ||||
| Auto Service | Wisconsin | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 2 years | ||||
| Auto Service | Wisconsin | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 44 years | ||||
| Multi-Tenant & Other | Alabama | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 7,022 | ||||
| Buildings and Improvements | 1,675 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 6 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 7,022 | ||||
| Building and Improvements | 1,681 | ||||
| Equipment | 0 | ||||
| Total | 8,703 | ||||
| Accumulated Depreciation | $ 462 | ||||
| Multi-Tenant & Other | Alabama | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 8 years | ||||
| Multi-Tenant & Other | Alabama | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 48 years | ||||
| Multi-Tenant & Other | California | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,060 | ||||
| Buildings and Improvements | 4,281 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 125 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,060 | ||||
| Building and Improvements | 4,406 | ||||
| Equipment | 0 | ||||
| Total | 5,466 | ||||
| Accumulated Depreciation | $ 545 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Multi-Tenant & Other | Colorado | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,958 | ||||
| Buildings and Improvements | 458 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 14 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 4,958 | ||||
| Building and Improvements | 472 | ||||
| Equipment | 0 | ||||
| Total | 5,430 | ||||
| Accumulated Depreciation | $ 49 | ||||
| Multi-Tenant & Other | Colorado | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Colorado | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Multi-Tenant & Other | Florida | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,386 | ||||
| Buildings and Improvements | 4,258 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 10 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,386 | ||||
| Building and Improvements | 4,268 | ||||
| Equipment | 0 | ||||
| Total | 6,654 | ||||
| Accumulated Depreciation | $ 331 | ||||
| Multi-Tenant & Other | Florida | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Multi-Tenant & Other | Florida | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 40 years | ||||
| Multi-Tenant & Other | Idaho | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 578 | ||||
| Buildings and Improvements | 1,164 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 578 | ||||
| Building and Improvements | 1,164 | ||||
| Equipment | 0 | ||||
| Total | 1,742 | ||||
| Accumulated Depreciation | $ 139 | ||||
| Multi-Tenant & Other | Idaho | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Idaho | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Multi-Tenant & Other | Illinois | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 11 | ||||
| Initial Cost to Company | |||||
| Land | $ 17,799 | ||||
| Buildings and Improvements | 17,912 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 51 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 17,799 | ||||
| Building and Improvements | 17,963 | ||||
| Equipment | 0 | ||||
| Total | 35,762 | ||||
| Accumulated Depreciation | $ 1,562 | ||||
| Multi-Tenant & Other | Illinois | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Multi-Tenant & Other | Illinois | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 54 years | ||||
| Multi-Tenant & Other | Indiana | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 5 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,362 | ||||
| Buildings and Improvements | 5,154 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 8,362 | ||||
| Building and Improvements | 5,154 | ||||
| Equipment | 0 | ||||
| Total | 13,516 | ||||
| Accumulated Depreciation | $ 437 | ||||
| Multi-Tenant & Other | Indiana | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Indiana | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 54 years | ||||
| Multi-Tenant & Other | Iowa | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,318 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,318 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 1,318 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Multi-Tenant & Other | Kansas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,090 | ||||
| Buildings and Improvements | 2,324 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,090 | ||||
| Building and Improvements | 2,324 | ||||
| Equipment | 0 | ||||
| Total | 5,414 | ||||
| Accumulated Depreciation | $ 333 | ||||
| Multi-Tenant & Other | Kansas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Multi-Tenant & Other | Kansas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Multi-Tenant & Other | Louisiana | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,739 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,739 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 1,739 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Multi-Tenant & Other | Maine | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,355 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,355 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 3,355 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Multi-Tenant & Other | Maryland | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,847 | ||||
| Buildings and Improvements | 5,379 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,847 | ||||
| Building and Improvements | 5,379 | ||||
| Equipment | 0 | ||||
| Total | 8,226 | ||||
| Accumulated Depreciation | $ 591 | ||||
| Multi-Tenant & Other | Maryland | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Maryland | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 49 years | ||||
| Multi-Tenant & Other | Michigan | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 8 | ||||
| Initial Cost to Company | |||||
| Land | $ 9,333 | ||||
| Buildings and Improvements | 15,296 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 19 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 9,333 | ||||
| Building and Improvements | 15,315 | ||||
| Equipment | 0 | ||||
| Total | 24,648 | ||||
| Accumulated Depreciation | $ 1,228 | ||||
| Multi-Tenant & Other | Michigan | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Michigan | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 54 years | ||||
| Multi-Tenant & Other | Missouri | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 512 | ||||
| Buildings and Improvements | 556 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 512 | ||||
| Building and Improvements | 556 | ||||
| Equipment | 0 | ||||
| Total | 1,068 | ||||
| Accumulated Depreciation | $ 63 | ||||
| Multi-Tenant & Other | Missouri | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Missouri | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Multi-Tenant & Other | New Jersey | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 917 | ||||
| Buildings and Improvements | 1,433 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 917 | ||||
| Building and Improvements | 1,433 | ||||
| Equipment | 0 | ||||
| Total | 2,350 | ||||
| Accumulated Depreciation | $ 89 | ||||
| Multi-Tenant & Other | New Jersey | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | New Jersey | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 30 years | ||||
| Multi-Tenant & Other | New Mexico | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,728 | ||||
| Buildings and Improvements | 2,413 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 26 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,728 | ||||
| Building and Improvements | 2,439 | ||||
| Equipment | 0 | ||||
| Total | 5,167 | ||||
| Accumulated Depreciation | $ 260 | ||||
| Multi-Tenant & Other | New Mexico | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | New Mexico | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 49 years | ||||
| Multi-Tenant & Other | New York | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,272 | ||||
| Buildings and Improvements | 4,756 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 30 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,272 | ||||
| Building and Improvements | 4,786 | ||||
| Equipment | 0 | ||||
| Total | 7,058 | ||||
| Accumulated Depreciation | $ 314 | ||||
| Multi-Tenant & Other | New York | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | New York | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 50 years | ||||
| Multi-Tenant & Other | North Carolina | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 941 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 941 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 941 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Multi-Tenant & Other | Ohio | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 7 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,826 | ||||
| Buildings and Improvements | 7,272 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 8,826 | ||||
| Building and Improvements | 7,272 | ||||
| Equipment | 0 | ||||
| Total | 16,098 | ||||
| Accumulated Depreciation | $ 681 | ||||
| Multi-Tenant & Other | Ohio | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Ohio | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 49 years | ||||
| Multi-Tenant & Other | Oklahoma | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 1,836 | ||||
| Buildings and Improvements | 598 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 1,836 | ||||
| Building and Improvements | 598 | ||||
| Equipment | 0 | ||||
| Total | 2,434 | ||||
| Accumulated Depreciation | $ 92 | ||||
| Multi-Tenant & Other | Oklahoma | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Oklahoma | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Multi-Tenant & Other | Pennsylvania | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,822 | ||||
| Buildings and Improvements | 5,139 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,822 | ||||
| Building and Improvements | 5,139 | ||||
| Equipment | 0 | ||||
| Total | 8,961 | ||||
| Accumulated Depreciation | $ 169 | ||||
| Multi-Tenant & Other | Pennsylvania | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Pennsylvania | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 49 years | ||||
| Multi-Tenant & Other | Rhode Island | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 951 | ||||
| Buildings and Improvements | 1,469 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 951 | ||||
| Building and Improvements | 1,469 | ||||
| Equipment | 0 | ||||
| Total | 2,420 | ||||
| Accumulated Depreciation | $ 133 | ||||
| Multi-Tenant & Other | Rhode Island | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Rhode Island | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 45 years | ||||
| Multi-Tenant & Other | South Carolina | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 3,194 | ||||
| Buildings and Improvements | 567 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 3,194 | ||||
| Building and Improvements | 567 | ||||
| Equipment | 0 | ||||
| Total | 3,761 | ||||
| Accumulated Depreciation | $ 108 | ||||
| Multi-Tenant & Other | South Carolina | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 11 years | ||||
| Multi-Tenant & Other | South Carolina | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 46 years | ||||
| Multi-Tenant & Other | Tennessee | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 4,852 | ||||
| Buildings and Improvements | 3,669 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 4,852 | ||||
| Building and Improvements | 3,669 | ||||
| Equipment | 0 | ||||
| Total | 8,521 | ||||
| Accumulated Depreciation | $ 50 | ||||
| Multi-Tenant & Other | Tennessee | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Tennessee | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 30 years | ||||
| Multi-Tenant & Other | Texas | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 3 | ||||
| Initial Cost to Company | |||||
| Land | $ 7,819 | ||||
| Buildings and Improvements | 7,637 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 7,819 | ||||
| Building and Improvements | 7,637 | ||||
| Equipment | 0 | ||||
| Total | 15,456 | ||||
| Accumulated Depreciation | $ 710 | ||||
| Multi-Tenant & Other | Texas | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Texas | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 54 years | ||||
| Multi-Tenant & Other | Virginia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 8,543 | ||||
| Buildings and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 8,543 | ||||
| Building and Improvements | 0 | ||||
| Equipment | 0 | ||||
| Total | 8,543 | ||||
| Accumulated Depreciation | $ 0 | ||||
| Life on which Depreciation in latest Statement of Income is Computed | 0 years | ||||
| Multi-Tenant & Other | West Virginia | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 1 | ||||
| Initial Cost to Company | |||||
| Land | $ 757 | ||||
| Buildings and Improvements | 862 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 757 | ||||
| Building and Improvements | 862 | ||||
| Equipment | 0 | ||||
| Total | 1,619 | ||||
| Accumulated Depreciation | $ 128 | ||||
| Multi-Tenant & Other | West Virginia | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 5 years | ||||
| Multi-Tenant & Other | West Virginia | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 35 years | ||||
| Multi-Tenant & Other | Wisconsin | |||||
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items] | |||||
| Nbr Properties | Property | 2 | ||||
| Initial Cost to Company | |||||
| Land | $ 2,887 | ||||
| Buildings and Improvements | 1,726 | ||||
| Equipment | 0 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 0 | |||
| Building and Improvements | [1] | 0 | |||
| Equipment | [1] | 0 | |||
| Gross Carrying Value | |||||
| Land | 2,887 | ||||
| Building and Improvements | 1,726 | ||||
| Equipment | 0 | ||||
| Total | 4,613 | ||||
| Accumulated Depreciation | $ 267 | ||||
| Multi-Tenant & Other | Wisconsin | Minimum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 10 years | ||||
| Multi-Tenant & Other | Wisconsin | Maximum | |||||
| Gross Carrying Value | |||||
| Life on which Depreciation in latest Statement of Income is Computed | 47 years | ||||
| |||||
SCHEDULE III - SCHEDULE OF REAL ESTATE ASSETS - Schedule III - 2 (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||
|---|---|---|---|---|---|
| Initial Cost to Company | |||||
| Land | $ 1,335,397 | ||||
| Buildings and Improvements | 1,454,982 | ||||
| Equipment | 48,002 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 25,375 | |||
| Building and Improvements | [1] | 246,540 | |||
| Equipment | [1] | 88,348 | |||
| Gross Carrying Value | |||||
| Land | 1,360,772 | ||||
| Building and Improvements | 1,701,522 | ||||
| Equipment | 136,350 | ||||
| Total | 3,198,644 | $ 2,949,421 | $ 2,655,702 | ||
| Accumulated Depreciation | $ 775,505 | $ 738,946 | $ 706,702 | ||
| |||||
SCHEDULE III - SCHEDULE OF REAL ESTATE ASSETS - Schedule III - 3 (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||
|---|---|---|---|---|---|
| Initial Cost to Company | |||||
| Land | $ 1,335,397 | ||||
| Buildings and Improvements | 1,454,982 | ||||
| Equipment | 48,002 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 25,375 | |||
| Building and Improvements | [1] | 246,540 | |||
| Equipment | [1] | 88,348 | |||
| Gross Carrying Value | |||||
| Land | 1,360,772 | ||||
| Building and Improvements | 1,701,522 | ||||
| Equipment | 136,350 | ||||
| Total | 3,198,644 | $ 2,949,421 | $ 2,655,702 | ||
| Accumulated Depreciation | $ 775,505 | $ 738,946 | $ 706,702 | ||
| |||||
SCHEDULE III - SCHEDULE OF REAL ESTATE ASSETS - Schedule III - 4 (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||
|---|---|---|---|---|---|
| Initial Cost to Company | |||||
| Land | $ 1,335,397 | ||||
| Buildings and Improvements | 1,454,982 | ||||
| Equipment | 48,002 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 25,375 | |||
| Building and Improvements | [1] | 246,540 | |||
| Equipment | [1] | 88,348 | |||
| Gross Carrying Value | |||||
| Land | 1,360,772 | ||||
| Building and Improvements | 1,701,522 | ||||
| Equipment | 136,350 | ||||
| Total | 3,198,644 | $ 2,949,421 | $ 2,655,702 | ||
| Accumulated Depreciation | $ 775,505 | $ 738,946 | $ 706,702 | ||
| |||||
SCHEDULE III - SCHEDULE OF REAL ESTATE ASSETS - Schedule III - 5 (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||
|---|---|---|---|---|---|
| Initial Cost to Company | |||||
| Land | $ 1,335,397 | ||||
| Buildings and Improvements | 1,454,982 | ||||
| Equipment | 48,002 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 25,375 | |||
| Building and Improvements | [1] | 246,540 | |||
| Equipment | [1] | 88,348 | |||
| Gross Carrying Value | |||||
| Land | 1,360,772 | ||||
| Building and Improvements | 1,701,522 | ||||
| Equipment | 136,350 | ||||
| Total | 3,198,644 | $ 2,949,421 | $ 2,655,702 | ||
| Accumulated Depreciation | $ 775,505 | $ 738,946 | $ 706,702 | ||
| |||||
SCHEDULE III - SCHEDULE OF REAL ESTATE ASSETS - Schedule III - 6 (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||
|---|---|---|---|---|---|
| Initial Cost to Company | |||||
| Land | $ 1,335,397 | ||||
| Buildings and Improvements | 1,454,982 | ||||
| Equipment | 48,002 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 25,375 | |||
| Building and Improvements | [1] | 246,540 | |||
| Equipment | [1] | 88,348 | |||
| Gross Carrying Value | |||||
| Land | 1,360,772 | ||||
| Building and Improvements | 1,701,522 | ||||
| Equipment | 136,350 | ||||
| Total | 3,198,644 | $ 2,949,421 | $ 2,655,702 | ||
| Accumulated Depreciation | $ 775,505 | $ 738,946 | $ 706,702 | ||
| |||||
SCHEDULE III - SCHEDULE OF REAL ESTATE ASSETS - Schedule III - 7 (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||
|---|---|---|---|---|---|
| Initial Cost to Company | |||||
| Land | $ 1,335,397 | ||||
| Buildings and Improvements | 1,454,982 | ||||
| Equipment | 48,002 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 25,375 | |||
| Building and Improvements | [1] | 246,540 | |||
| Equipment | [1] | 88,348 | |||
| Gross Carrying Value | |||||
| Land | 1,360,772 | ||||
| Building and Improvements | 1,701,522 | ||||
| Equipment | 136,350 | ||||
| Total | 3,198,644 | $ 2,949,421 | $ 2,655,702 | ||
| Accumulated Depreciation | $ 775,505 | $ 738,946 | $ 706,702 | ||
| |||||
SCHEDULE III - SCHEDULE OF REAL ESTATE ASSETS - Schedule III - 8 (Details) - USD ($) $ in Thousands |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||
|---|---|---|---|---|---|
| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |||||
| Aggregate cost of properties for federal income tax purposes | $ 3,200,000 | ||||
| Initial Cost to Company | |||||
| Land | 1,335,397 | ||||
| Buildings and Improvements | 1,454,982 | ||||
| Equipment | 48,002 | ||||
| Cost Capitalized Since Acquisition | |||||
| Land | [1] | 25,375 | |||
| Building and Improvements | [1] | 246,540 | |||
| Equipment | [1] | 88,348 | |||
| Gross Carrying Value | |||||
| Land | 1,360,772 | ||||
| Building and Improvements | 1,701,522 | ||||
| Equipment | 136,350 | ||||
| Total | 3,198,644 | $ 2,949,421 | $ 2,655,702 | ||
| Accumulated Depreciation | $ 775,505 | $ 738,946 | $ 706,702 | ||
| |||||
SCHEDULE III- SCHEDULE OF REAL ESTATE ASSETS - Reconciliation of Carrying Amount (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Carrying Costs | ||
| Balance - beginning of period | $ 2,949,421 | $ 2,655,702 |
| Additions placed in service | 249,923 | 310,787 |
| Movement: Held for Sale | 0 | 0 |
| Dispositions and other | (700) | (17,068) |
| Balance - end of year | 3,198,644 | 2,949,421 |
| Accumulated Depreciation | ||
| Balance - beginning of year | (738,946) | (706,702) |
| Depreciation expense | (37,106) | (33,983) |
| Movement: Held for Sale | 0 | 0 |
| Dispositions and other | 547 | 1,739 |
| Balance - end of year | $ (775,505) | $ (738,946) |