Store Capital (STOR) 10-K22 Mar 232022 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2022	Mar. 20, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-36739
Entity Registrant Name	STORE CAPITAL LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	88-4051712
Entity Address, Address Line One	8377 East Hartford Drive
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85255
City Area Code	480
Local Phone Number	256-1100
Title of 12(b) Security	None
No Trading Symbol Flag	true
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 0
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Phoenix, Arizona
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Central Index Key	0001538990
Units of equity
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,125

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Real estate investments:
Land and improvements	$ 3,455,443	$ 3,133,402
Buildings and improvements	7,743,454	6,802,918
Intangible lease assets	61,968	54,971
Total real estate investments	11,260,865	9,991,291
Less accumulated depreciation and amortization	(1,438,107)	(1,159,292)
Real estate investments, net	9,822,758	8,831,999
Real estate investments held for sale, net		25,154
Operating ground lease assets	31,872	33,318
Loans and financing receivables, net	787,106	697,269
Net investments	10,641,736	9,587,740
Cash and cash equivalents	35,137	64,269
Other assets, net	158,097	121,073
Total assets	10,834,970	9,773,082
Liabilities:
Credit facility	555,000	130,000
Unsecured notes and term loans payable, net	2,397,406	1,782,813
Non-recourse debt obligations of consolidated special purpose entities, net	2,238,470	2,425,708
Dividends payable		105,415
Operating lease liabilities	36,873	37,637
Accrued expenses, deferred revenue and other liabilities	180,903	147,380
Total liabilities	5,408,652	4,628,953
Stockholders' equity:
Common stock, $0.01 par value per share, 375,000,000 shares authorized, 282,684,998 and 273,806,225 shares issued and outstanding, respectively	2,827	2,738
Capital in excess of par value	6,003,331	5,745,692
Distributions in excess of retained earnings	(609,361)	(602,137)
Accumulated other comprehensive income (loss)	29,521	(2,164)
Total stockholders' equity	5,426,318	5,144,129
Total liabilities and stockholders' equity	$ 10,834,970	$ 9,773,082

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Consolidated Balance Sheets
Common stock, par value per share	$ 0.01	$ 0.01
Common shares, authorized shares	375,000,000	375,000,000
Common shares, issued shares	282,684,998	273,806,225
Common shares, outstanding shares	282,684,998	273,806,225

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Rental revenues	$ 846,420	$ 729,061	$ 644,498
Interest income on loans and financing receivables	56,776	50,821	45,288
Other income	6,976	2,782	4,482
Total revenues	910,172	782,664	694,268
Expenses:
Interest	189,549	170,974	169,706
Property costs	14,696	18,244	22,025
General and administrative	62,555	84,097	49,685
Merger-related	12,248
Depreciation and amortization	308,084	265,813	242,925
Provisions for impairment	16,428	24,979	23,003
Total expenses	603,560	564,107	507,344
Other income:
Gain on dispositions of real estate	19,224	46,655	22,774
Income from non-real estate, equity method investments	2,949	3,949	3,500
Income before income taxes	328,785	269,161	213,198
Income tax expense	884	813	584
Net income	$ 327,901	$ 268,348	$ 212,614
Net income per share of common stock-basic	$ 1.17	$ 0.99	$ 0.84
Net income per share of common stock-diluted	$ 1.17	$ 0.99	$ 0.84
Weighted average common shares outstanding:
Basic (in shares)	280,105,477	270,105,269	252,534,580
Diluted (in shares)	280,105,477	270,105,269	252,651,040

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statements of Comprehensive Income
Net income	$ 327,901	$ 268,348	$ 212,614
Other comprehensive income (loss):
Unrealized gains (losses) on cash flow hedges	30,393	(3)	(1,437)
Cash flow hedge losses reclassified to interest expense	1,292	634	978
Total other comprehensive income (loss)	31,685	631	(459)
Total comprehensive income	$ 359,586	$ 268,979	$ 212,155

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Cumulative Effect, Period of Adoption, Adjustment Distributions in Excess of Retained Earnings	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Capital in Excess of Par Value	Distributions in Excess of Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2019			$ 2,398	$ 4,787,932	$ (302,609)	$ (2,336)	$ 4,485,385
Balance (in shares) at Dec. 31, 2019			239,822,900
Increase (Decrease) in Stockholders' Equity
Net income					212,614		212,614
Other comprehensive income (loss)						(459)	(459)
Issuance of common stock, net of costs			$ 257	686,129			686,386
Issuance of common stock, net of costs (shares)			25,696,396
Equity-based compensation			$ 6	4,659	5		4,670
Equity-based compensation (shares)			732,511
Shares repurchased under stock compensation plan				(2,831)	(2,366)		$ (5,197)
Shares repurchased under stock compensation plan (in shares)			(139,131)				(139,131)
Common dividends declared					(365,156)		$ (365,156)
Balance at Dec. 31, 2020	$ (2,465)	$ (2,465)	$ 2,661	5,475,889	(459,977)	(2,795)	5,015,778
Balance (in shares) at Dec. 31, 2020			266,112,676
Increase (Decrease) in Stockholders' Equity
Net income					268,348		268,348
Other comprehensive income (loss)						631	631
Issuance of common stock, net of costs			$ 73	243,598			243,671
Issuance of common stock, net of costs (shares)			7,322,471
Equity-based compensation			$ 7	32,223	172		32,402
Equity-based compensation (shares)			659,210
Shares repurchased under stock compensation plan			$ (3)	(6,018)	(3,488)		$ (9,509)
Shares repurchased under stock compensation plan (in shares)			(288,132)				(288,132)
Common dividends declared					(407,192)		$ (407,192)
Balance at Dec. 31, 2021			$ 2,738	5,745,692	(602,137)	(2,164)	5,144,129
Balance (in shares) at Dec. 31, 2021			273,806,225
Increase (Decrease) in Stockholders' Equity
Net income					327,901		327,901
Other comprehensive income (loss)						31,685	31,685
Issuance of common stock, net of costs			$ 86	249,520			249,606
Issuance of common stock, net of costs (shares)			8,607,771
Equity-based compensation			$ 3	12,426	112		12,541
Equity-based compensation (shares)			473,798
Shares repurchased under stock compensation plan				(4,307)	(1,964)		$ (6,271)
Shares repurchased under stock compensation plan (in shares)			(202,796)				(202,796)
Common dividends declared					(333,273)		$ (333,273)
Balance at Dec. 31, 2022			$ 2,827	$ 6,003,331	$ (609,361)	$ 29,521	$ 5,426,318
Balance (in shares) at Dec. 31, 2022			282,684,998

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated Statements of Stockholders' Equity
Stock issuance costs	$ 3,268	$ 4,109	$ 9,558
Common dividends declared per common share (in dollars per share)	$ 1.18	$ 1.49	$ 1.42

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income	$ 327,901	$ 268,348	$ 212,614
Adjustments to net income:
Depreciation and amortization	308,084	265,813	242,925
Amortization of deferred financing costs and other noncash interest expense	9,509	10,120	8,827
Amortization of equity-based compensation	12,430	32,228	4,665
Provisions for impairment	16,428	24,979	23,003
Net gain on dispositions of real estate	(19,224)	(46,655)	(22,774)
Income from non-real estate, equity method investments	(2,949)	(3,949)	(3,500)
Distribution received from non-real estate, equity method investment	468	120
Noncash revenue and other	(4,423)	(9,907)	(53,139)
Changes in operating assets and liabilities:
Other assets	4,455	32,459	(6,837)
Accrued expenses, deferred revenue and other liabilities	21,736	9,817	25,802
Net cash provided by operating activities	674,415	583,373	431,586
Investing activities
Acquisition of and additions to real estate	(1,457,503)	(1,379,902)	(917,038)
Investment in loans and financing receivables	(158,676)	(125,049)	(153,545)
Collections of principal on loans and financing receivables	67,922	19,160	46,618
Proceeds from dispositions of real estate	195,629	355,972	212,108
Contribution made to non-real estate, equity method investment	(468)
Net cash used in investing activities	(1,353,096)	(1,129,819)	(811,857)
Financing activities
Borrowings under credit facility	1,183,000	665,000	600,000
Repayments under credit facility	(758,000)	(535,000)	(600,000)
Borrowings under unsecured notes and term loans payable	690,000	374,539	348,453
Repayments under unsecured notes and term loans payable	(75,000)	(100,000)	(100,000)
Borrowings under non-recourse debt obligations of consolidated special purpose entities		514,785
Repayments under non-recourse debt obligations of consolidated special purpose entities	(192,559)	(301,078)	(127,659)
Financing costs paid	(3,272)	(14,433)	(3,330)
Proceeds from the issuance of common stock	252,873	247,780	695,944
Stock issuance costs paid	(3,268)	(4,162)	(9,540)
Shares repurchased under stock compensation plans	(6,271)	(9,507)	(5,198)
Dividends paid	(439,067)	(398,005)	(353,204)
Net cash provided by financing activities	648,436	439,919	445,466
Net (decrease) increase in cash, cash equivalents and restricted cash	(30,245)	(106,527)	65,195
Cash, cash equivalents and restricted cash, beginning of period	70,049	176,576	111,381
Cash, cash equivalents and restricted cash, end of period	39,804	70,049	176,576
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	35,137	64,269	166,381
Restricted cash included in other assets	4,667	5,780	10,195
Total cash, cash equivalents and restricted cash	39,804	70,049	176,576
Supplemental disclosure of noncash investing and financing activities:
Accrued tenant improvements included in real estate investments	21,118	25,077	22,087
Seller financing provided to purchaser of real estate sold			3,176
Tenant funded improvements to real estate investments	10,550
Acquisition of real estate assets from borrowers under loans and financing receivables	8,945	42,782	30,585
Non-recourse debt obligation assumed in conjunction with acquisition of property			6,215
Accrued financing and stock issuance costs	54	79	138
Supplemental disclosure of cash flow information:
Cash paid during the period for interest, net of amounts capitalized	177,294	159,805	160,091
Cash paid during the period for income and franchise taxes	$ 2,937	$ 2,441	$ 2,366

Organization

Organization	12 Months Ended
Organization	Dec. 31, 2022
Organization
Organization	1. Organization STORE Capital Corporation (“STORE Capital” or “the Company”) was incorporated under the laws of Maryland on May 17, 2011 to acquire single-tenant operational real estate to be leased on a long-term, net basis to companies that operate across a wide variety of industries within the service, service-oriented retail and manufacturing sectors of the United States economy. From time to time, it also provides mortgage financing to its customers. On November 21, 2014, the Company completed the initial public offering (“IPO”) of its common stock. The shares began trading on the New York Stock Exchange (“NYSE”) on November 18, 2014 under the ticker symbol “STOR”. STORE Capital made an election to qualify, and believes it operated through the closing of the Merger (as defined below) in a manner to continue to qualify, as a real estate investment trust (“REIT”) for federal income tax purposes beginning with its initial taxable year ended December 31, 2011. A REIT is generally not subject to federal income taxes to the extent that it distributes all of its taxable income to its members and meets other specific requirements. The Merger On September 15, 2022, STORE Capital Corporation, a Maryland corporation, Ivory Parent, LLC, a Delaware limited liability company (“Parent”) and Ivory REIT, LLC, a Delaware limited liability company (“Merger Sub” and, together with Parent, the “Parent Parties”), entered into an Agreement and Plan of Merger (the “Merger Agreement”). The Parent Parties are affiliates of GIC, a global institutional investor, and Oak Street Real Estate Capital, a division of Blue Owl Capital, Inc. On February 3, 2023 (the “Closing Date”), pursuant to the terms and subject to the conditions set forth in the Merger Agreement, STORE Capital Corporation merged with and into Merger Sub (the “Merger”) with Merger Sub surviving (the “Surviving Entity”), and the separate existence of STORE Capital Corporation ceased. Immediately following the completion of the Merger, the Surviving Entity changed its name to STORE Capital LLC. References herein to the “Company” or to “STORE Capital” are references to STORE Capital Corporation prior to the Merger and to STORE Capital LLC upon and following the Merger. As of the Closing Date of the Merger, the common equity of the Company is no longer publicly traded. See Note 10 for a description of events occurring subsequent to December 31, 2022 in connection with the completion of the Merger.

Summary of Significant Accounti

Summary of Significant Accounting Principles	12 Months Ended
Summary of Significant Accounting Principles	Dec. 31, 2022
Summary of Significant Accounting Principles
Summary of Significant Accounting Principles	2. Summary of Significant Accounting Principles Basis of Accounting and Principles of Consolidation The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These consolidated statements include the accounts of STORE Capital and its subsidiaries which are wholly owned and controlled by the Company through its voting interest. One of the Company’s wholly owned subsidiaries, STORE Capital Advisors, LLC, provides all of the general and administrative services for the day-to-day operations of the consolidated group, including property acquisition and lease origination, real estate portfolio management and marketing, accounting and treasury services. The remaining subsidiaries were formed to acquire and hold real estate investments or to facilitate non-recourse secured borrowing activities. Generally, the initial operations of the real estate subsidiaries are funded by an interest-bearing intercompany loan from STORE Capital, and such intercompany loan is repaid when the subsidiary issues long-term debt secured by its properties. All intercompany account balances and transactions have been eliminated in consolidation. Certain of the Company’s wholly owned consolidated subsidiaries were formed as special purpose entities. Each special purpose entity is a separate legal entity and is the sole owner of its assets and liabilities. The assets of the special purpose entities are not available to pay or otherwise satisfy obligations to the creditors of any owner or affiliate of the special purpose entity. At December 31, 2022 and 2021, these special purpose entities held assets totaling $9.5 billion and $8.5 billion, respectively, and had third-party liabilities totaling $2.4 billion and $2.6 billion, respectively. These assets and liabilities are included in the accompanying consolidated balance sheets. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Although management believes its estimates are reasonable, actual results could differ from those estimates. Segment Reporting The Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting Investment Portfolio STORE Capital invests in real estate assets through three primary transaction types as summarized below. At the beginning of 2019, the Company adopted Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) ● Real Estate Investments – investments are generally made through sale-leaseback transactions in which the Company acquires the real estate from the owner-operators and then leases the real estate back to them through long-term leases which are generally classified as operating leases; the operators become the Company’s long-term tenants (its customers). Certain of the lease contracts that are associated with a sale-leaseback transaction may contain terms, such as a tenant purchase option, which results in the transaction being accounted for as a financing arrangement due to the adoption of ASC Topic 842 rather than as an investment in real estate subject to an operating lease. ● Mortgage Loans Receivable – investments are made by issuing mortgage loans to the owner-operators of the real estate that serve as the collateral for the loans and the operators become long-term borrowers and customers of the Company. On occasion, the Company may also make other types of loans to its customers, such as equipment loans. ● Hybrid Real Estate Investments – investments are made through modified sale-leaseback transactions, where the Company acquires land from the owner-operators, leases the land back through long-term leases and simultaneously issues mortgage loans to the operators secured by the buildings and improvements on the land. Prior to 2019, these hybrid real estate investment transactions were generally accounted for as direct financing leases. Subsequent to the adoption of ASC Topic 842, new or modified hybrid real estate investment transactions are generally accounted for as operating leases of the land and mortgage loans on the buildings and improvements. Impact of the COVID-19 Pandemic During the novel coronavirus (“COVID-19”) pandemic beginning in early 2020, the Company provided to certain tenants rent deferral arrangements in the form of both short-term notes and lease modifications. The FASB provided accounting relief under which concessions provided to tenants in direct response to the COVID-19 pandemic are not required to be evaluated or accounted for as lease modifications in accordance with ASC Topic 842. The Company elected to apply this accounting relief to the rent deferral arrangements it has entered into with its tenants, which primarily affected the timing (but not the amount) of lease and loan payments due to the Company under its contracts. For the years ended December 31, 2022, 2021 and 2020, the Company recognized $1.5 million, $8.3 million and $57.1 million of net revenue associated with these deferral arrangements with a corresponding increase in receivables that are included in other assets, net on the consolidated balance sheet. During the years ended December 31, 2022, 2021 and 2020, the Company collected $14.5 million, $33.4 million and $9.9 million of the receivables related to these deferral arrangements. Accounting for Real Estate Investments Classification and Cost STORE Capital records the acquisition of real estate properties at cost, including acquisition and closing costs. The Company allocates the cost of real estate properties to the tangible and intangible assets and liabilities acquired based on their estimated relative fair values. Intangible assets and liabilities acquired may include the value of existing in-place leases, above-market or below-market lease value of in-place leases and ground lease-related intangibles, as applicable. Management uses multiple sources to estimate fair value, including independent appraisals and information obtained about each property as a result of its pre-acquisition due diligence and its marketing and leasing activities. Certain of the Company’s lease contracts allow its tenants the option, at their election, to purchase the leased property from the Company at a specified time or times (generally at the greater of the then-fair market value or the Company’s cost, as defined in the lease contracts). Subsequent to the adoption of ASC Topic 842, for real estate assets acquired through a sale-leaseback transaction and subject to a lease contract which contains a purchase option, the Company accounts for such an acquisition as a financing arrangement and records the investment in loans and financing receivables on the consolidated balance sheet; should the purchase option later expire or be removed from the lease contract, the Company would derecognize the asset accounted for as a financing arrangement and recognize the transferred leased asset in real estate investments. In-place lease intangibles are valued based on management’s estimates of lost rent and carrying costs 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. In estimating lost rent and carrying costs, management considers market rents, real estate taxes, insurance, costs to execute similar leases (including leasing commissions) and other related costs. The value assigned to in-place leases is amortized on a straight-line basis as a component of depreciation and amortization expense typically over the remaining term of the related leases. The fair value of any above-market or below-market lease is estimated based on the present value of the difference between the contractual amounts to be paid pursuant to the in-place lease and management’s estimate of current market lease rates for the property, measured over a period equal to the remaining term of the lease. Capitalized above-market lease intangibles are amortized over the remaining term of the respective leases as a decrease to rental revenue. Below-market lease intangibles are amortized as an increase in rental revenue over the remaining term of the respective leases plus the fixed-rate renewal periods on those leases, if any. Should a lease terminate early, the unamortized portion of any related lease intangible is immediately recognized in operations. The Company’s real estate portfolio is depreciated using the straight-line method over the estimated remaining useful life of the properties, which generally ranges from 30 Revenue Recognition STORE Capital leases real estate to its tenants under long- term net leases that are predominantly classified as operating leases. The Company’s leases generally provide for rent escalations throughout the lease terms. For leases that provide for specific contractual escalations, rental revenue is recognized on a straight-line basis so as to produce a constant periodic rent over the term of the lease. Accordingly, straight-line operating lease receivables, calculated as the aggregate difference between the rental revenue recognized on a straight-line basis and scheduled rents, represent unbilled rent receivables that the Company will receive only if the tenants make all rent payments required through the expiration of the leases; these receivables are included in other assets, net on the consolidated balance sheets. The Company reviews its straight-line operating lease receivables for collectibility on a contract by contract basis and any amounts not considered substantially collectible are written off against rental revenues. As of December 31, 2022 and 2021, the Company had In addition to base rental revenue, certain leases also have contingent rentals that are based on a percentage of the tenant’s gross sales; the Company recognizes contingent rental revenue when the threshold upon which the contingent lease payment is based is actually reached. Approximately 3.2% of the Company’s investment portfolio is subject to leases that provide for contingent rent based on a percentage of the tenant’s gross sales; historically, contingent rent recognized has been less than 2.0% of rental revenues. The Company reviews its operating lease receivables for collectibility on a regular basis, taking into consideration changes in factors such as the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area where the property is located. In the event that the collectibility of lease payments with respect to any tenant is not probable, a direct write-off of the receivable is made and any future rental revenue is recognized only when the tenant makes a rental payment or when collectibility is again deemed probable. Direct costs incremental to successful lease origination, offset by any lease origination fees received, are deferred and amortized over the related lease term as an adjustment to rental revenue. The Company periodically commits to fund the construction of new properties for its customers; rental revenue collected during the construction period is deferred and amortized over the remaining lease term when the construction project is complete. Substantially all of the Company’s leases are triple net, which means that the lessees are directly responsible for the payment of all property operating expenses, including property taxes, maintenance and insurance. For a few lease contracts, the Company collects property taxes from its customers and remits those taxes to governmental authorities. Subsequent to the adoption of ASC Topic 842, these property tax payments are presented on a gross basis as part of both rental revenues and property costs in the consolidated statements of income. Impairment STORE Capital reviews its real estate investments and related lease intangibles periodically for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through operations. Such events or changes in circumstances may include an expectation to sell certain assets in accordance with the Company’s long-term strategic plans. Management considers factors such as expected future undiscounted cash flows, capitalization and discount rates, terminal value, tenant improvements, market trends (such as the effects of leasing demand and competition) and other factors including bona fide purchase offers received from third parties in making this assessment. These factors are classified as Level 3 inputs within the fair value hierarchy, discussed in Fair Value Measurement During the year ended December 31, 2022, the Company recognized an aggregate provision for impairment of real estate of $16.0 million. For the assets impaired in 2022, the estimated fair value of the impaired real estate assets at the time of impairment aggregated $65.3 million. The Company recognized aggregate provisions for the impairment of real estate of $21.8 million and $22.0 million during the years ended December 31, 2021 and 2020, respectively. Accounting for Loans and Financing Receivables Loans Receivable – Classification, Cost and Revenue Recognition STORE Capital holds its loans receivable, which are primarily mortgage loans secured by real estate, for long-term investment. Loans receivable are carried at amortized cost, including related unamortized discounts or premiums, if any. The Company recognizes interest income on loans receivable using the effective-interest method applied on a loan-by-loan basis. Direct costs associated with originating loans are offset against any related fees received and the balance, along with any premium or discount, is deferred and amortized as an adjustment to interest income over the term of the related loan receivable using the effective interest method. A loan receivable is placed on nonaccrual status when the loan has become more than 60 days past due, or earlier if management determines that full recovery of the contractually specified payments of principal and interest is doubtful. While on nonaccrual status, interest income is recognized only when received. As of December 31, 2022 and 2021, the Company had loans receivable with an aggregate outstanding principal balance of $31.8 million and $28.8 million, respectively, on nonaccrual status. Direct Financing Receivables – Classification, Cost and Revenue Recognition Direct financing receivables include hybrid real estate investment transactions completed prior to 2019. The Company recorded the direct financing receivables at their net investment, determined as the aggregate minimum lease payments and the estimated residual value of the leased property less unearned income. The unearned income is recognized over the life of the related contracts so as to produce a constant rate of return on the net investment in the asset. Subsequent to the adoption of ASC Topic 842, existing direct financing receivables will continue to be accounted for in the same manner, unless the underlying contracts are modified. Impairment and Provision for Credit Losses The Company accounts for provisions of credit losses in accordance with ASU 2016-13, Financial Instruments — Credit Losses (“Topic 326”): Measurement of Credit Losses on Financial Instruments (“ASC Topic 326”) Accounting for Operating Ground Lease Assets As part of certain real estate investment transactions, the Company may enter into long-term operating ground leases as a lessee. The Company is required to recognize an operating ground lease (or right-of-use) asset and related operating lease liability for each of these operating ground leases. Operating ground lease assets and operating 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. Many of these operating lease contracts include options for the Company to extend the lease; the option periods are included in the minimum lease term only if it is reasonably likely the Company will exercise the option(s). Rental expense for the operating ground lease contracts is recognized in property costs on a straight-line basis over the lease term. Some of the contracts have contingent rent escalators indexed to future increases in the CPI and a few contracts have contingent rentals that are based on a percentage of the gross sales of the property; these payments are recognized in expense as incurred. The payment obligations under these contracts are typically the responsibility of the tenants operating on the properties, in accordance with the Company’s leases with the respective tenants. As a result, the Company also recognizes sublease rental revenue on a straight-line basis over the term of the Company’s sublease with the tenant; the sublease income is included in rental revenues. Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investment securities with maturities at acquisition of three months or less. The Company invests cash primarily in money-market funds of a major financial institution, consisting predominantly of U.S. Government obligations. Restricted Cash Restricted cash may include reserve account deposits held by lenders, including deposits required to be used for future investment in real estate assets, escrow deposits and cash proceeds from the sale of assets held by a qualified intermediary to facilitate tax-deferred exchange transactions under Section 1031 of the Internal Revenue Code. The Company had $4.7 million and $5.8 million of restricted cash at December 31, 2022 and 2021, respectively, which are included in other assets, net, on the consolidated balance sheets. Deferred Costs Financing costs related to the issuance of the Company’s long-term debt are deferred and amortized as an increase to interest expense over the term of the related debt instrument using the effective-interest method and are reported as a reduction of the related debt balance on the consolidated balance sheets. Deferred financing costs related to the establishment of the Company's credit facility are deferred and amortized to interest expense over the term of the credit facility and are included in other assets, net, on the consolidated balance sheets. Derivative Instruments and Hedging Activities The Company may enter into derivative contracts as part of its overall financing strategy to manage the Company’s exposure to changes in interest rates associated with current and/or future debt issuances. The Company does not use derivatives for trading or speculative purposes. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company enters into derivative financial instruments only with counterparties with high credit ratings and with major financial institutions with which the Company may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations. The Company records its derivatives on the balance sheet at fair value. All derivatives subject to a master netting arrangement in accordance with the associated master International Swap and Derivatives Association agreement have been presented on a net basis by counterparty portfolio for purposes of balance sheet presentation and related disclosures. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the earnings effect of the hedged forecasted transactions in a cash flow hedge. The changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (loss). Amounts reported in accumulated other comprehensive income (loss) related to cash flow hedges are reclassified to operations as an adjustment to interest expense as interest payments are made on the hedged debt transaction. As of December 31, 2022, the Company had seven interest rate swap agreements in place. One of the interest rate swap agreements has a notional amount of $200.0 million and was designated as a cash flow hedge of the Company's $200.0 million floating-rate bank term loan due in April 2029. The remaining six interest rate swap agreements have an aggregate notional amount of $400.0 million and were designated as cash flow hedges of the Company's $400.0 million floating-rate bank term loan due in April 2027 (Note 4). As of December 31, 2021, the Company had no derivative instruments in place. Fair Value Measurement The Company estimates the fair value of financial and non-financial assets and liabilities based on the framework established in fair value accounting guidance. Fair value is defined as 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 (an exit price). The hierarchy described below prioritizes inputs to the valuation techniques used in measuring the fair value of assets and liabilities. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring the most observable inputs to be used when available. The hierarchy is broken down into three levels based on the reliability of inputs as follows: ● Level 1—Quoted market prices in active markets for identical assets and liabilities that the Company has the ability to access. ● Level 2—Significant inputs that are observable, either directly or indirectly. These types of inputs would include quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets in inactive markets and market-corroborated inputs. ● Level 3—Inputs that are unobservable and significant to the overall fair value measurement of the assets or liabilities. These types of inputs include the Company’s own assumptions. Share-based Compensation Directors and employees of the Company have historically been granted long-term incentive awards, including restricted stock awards (“RSAs”) and restricted stock unit awards (“RSUs’), which provided such directors and employees with equity interests as an incentive to remain in the Company’s service and to align their interests with those of the Company’s stockholders. The Company estimates the fair value of RSAs based on the closing price per share of the common stock on the date of grant and recognizes that amount in general and administrative expense ratably over the vesting period at the greater of the amount amortized on a straight-line basis or the amount vested. The Company’s RSUs granted 2019 through 2022 contain both a market condition and a performance condition as well as a service condition. The Company values the RSUs with a market condition using a Monte Carlo simulation model and values the RSUs with a performance condition based on the fair value of the awards expected to be earned and recognizes those amounts in general and administrative expense on a tranche-by-tranche basis ratably over the vesting periods. Income Taxes As a REIT, the Company generally will not be subject to federal income tax. It is still subject, however, to state and local income taxes and to federal income and excise tax on its undistributed income. STORE Investment Corporation is the Company’s wholly owned taxable REIT subsidiary (“TRS”) created to engage in non-qualifying REIT activities. The TRS is subject to federal, state and local income taxes. Net Income Per Common Share Net income per common share has been computed pursuant to the guidance in the FASB ASC Topic 260, Earnings Per Share. Year Ended December 31, 2022 2021 2020 Numerator: Net income $ 327,901 $ 268,348 $ 212,614 Less: Earnings attributable to unvested restricted shares (558) (659) (776) Net income used in basic and diluted income per share $ 327,343 $ 267,689 $ 211,838 Denominator: Weighted average common shares outstanding 280,559,061 270,693,243 253,055,331 Less: Weighted average number of shares of unvested restricted stock (453,584) (587,974) (520,751) Weighted average shares outstanding used in basic income per share 280,105,477 270,105,269 252,534,580 Effects of dilutive securities: Add: Treasury stock method impact of potentially dilutive securities (a) — — 116,460 Weighted average shares outstanding used in diluted income per share 280,105,477 270,105,269 252,651,040 (a) For the years ended December 31, 2022, 2021 and 2020, excludes 121,112 shares, 225,424 shares and 127,136 shares, respectively, related to unvested restricted shares as the effect would have been antidilutive. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB or the SEC. The Company adopts the new pronouncements as of the specified effective date. When permitted, the Company may elect to early adopt the new pronouncements. Unless otherwise discussed, these new accounting pronouncements include technical corrections to existing guidance or introduce new guidance related to specialized industries or entities and, therefore, will have minimal, if any, impact on the Company’s financial position, results of operations or cash flows upon adoption. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848

Investments

Investments	12 Months Ended
Investments	Dec. 31, 2022
Investments.
Investments	3. Investments At December 31, 2022, STORE Capital had investments in 3,084 property locations representing 3,034 owned properties (of which 100 are accounted for as financing arrangements and 22 are accounted for as direct financing receivables), 24 properties where all the related land is subject to an operating ground lease and 26 properties which secure mortgage loans. The gross investment portfolio totaled $12.08 billion at December 31, 2022 and consisted of the gross acquisition cost of the real estate investments totaling $11.3 billion, loans and financing receivables with an aggregate carrying amount of $787.1 million and operating ground lease assets totaling $31.9 million. As of December 31, 2022, approximately 32% of these investments are assets of consolidated special purpose entity subsidiaries and are pledged as collateral under the non-recourse obligations of these special purpose entities (Note 4). The gross dollar amount of the Company’s investments includes the investment in land, buildings, improvements and lease intangibles related to real estate investments as well as the carrying amount of the loans and financing receivables and operating ground lease assets. During 2020, 2021 and 2022, the Company had the following gross real estate and other investment activity (dollars in thousands): Number of Dollar Investment Amount of Locations Investments Gross investments, December 31, 2019 2,504 8,854,921 Acquisition of and additions to real estate (a)(b) 203 959,842 Investment in loans and direct financing receivables (c) 11 156,721 Sales of real estate (72) (222,556) Principal collections on loans and direct financing receivables (d) (12) (80,521) Net change in operating ground lease assets (e) 10,429 Provisions for impairment (23,003) Adoption of expected credit loss standard (ASC Topic 326) (2,465) Other (13,602) Gross investments, December 31, 2020 2,634 9,639,766 Acquisition of and additions to real estate (a)(d)(f) 307 1,427,278 Investment in loans and direct financing receivables 29 125,049 Sales of real estate (103) (339,658) Principal collections on loans and direct financing receivables (d) (1) (61,942) Net change in operating ground lease assets (e) (1,365) Provisions for impairment (24,979) Other (15,212) Gross investments, December 31, 2021 2,866 10,748,937 Acquisition of and additions to real estate (a)(d)(g)(h) 256 1,475,499 Investment in loans and direct financing receivables 28 158,676 Sales of real estate (60) (197,530) Principal collections on loans and direct financing receivables (d) (6) (76,868) Net change in operating ground lease assets (e) (1,446) Provisions for impairment (16,428) Other (10,997) Gross investments, December 31, 2022 12,079,843 Less accumulated depreciation and amortization (1,438,107) Net investments, December 31, 2022 3,084 $ 10,641,736 (a) Includes $0.8 million during 2020, $0.8 million during 2021 and $2.3 million during 2022 of interest capitalized to properties under construction. (b) Excludes $16.9 million of tenant improvement advances disbursed in 2020 which were accrued as of December 31, 2019. (c) Includes $3.2 million related to mortgage loans made to the purchasers of a real estate properties sold during 2020. (d) For the years ended December 31, 2020, 2021, and 2022 includes $30.6 million, $42.8 million, and $8.9 million, respectively of non-cash principal collection transactions in which the Company acquired the underlying collateral property (buildings and improvements) and leased them back to a customer. (e) Includes new operating ground lease assets recognized net of amortization during the year ended December 30, 2020. During the years ended December 31, 2021 and 2022, represents amortization. (f) Excludes $21.2 million of tenant improvement advances disbursed in 2021 which were accrued as of December 31, 2020. (g) Excludes $22.6 million of tenant improvement advances disbursed in 2022 which were accrued as of December 31, 2021. (h) Incudes $10.6 million of tenant funded improvements during 2022. The following table summarizes the revenues the Company recognized from its investment portfolio (in thousands): Year Ended December 31, 2022 2021 2020 Rental revenues: Operating leases (a)(c) $ 845,880 $ 728,477 $ 644,733 Sublease income - operating ground leases (b) 2,812 2,809 2,096 Amortization of lease related intangibles and costs (2,272) (2,225) (2,331) Total rental revenues $ 846,420 $ 729,061 $ 644,498 Interest income on loans and financing receivables: Mortgage and other loans receivable (c) $ 26,667 $ 24,959 $ 18,097 Sale-leaseback transactions accounted for as financing arrangements 24,140 17,883 15,376 Direct financing receivables 5,969 7,979 11,815 Total interest income on loans and financing receivables $ 56,776 $ 50,821 $ 45,288 (a) For the years ended December 31, 2022, 2021 and 2020, includes $3.1 million, $2.6 million and $2.5 million, respectively, of property tax tenant reimbursement revenue and includes variable lease revenue of $1.0 million, $11.2 million and $4.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. (b) Represents total revenue recognized for the sublease of properties subject to operating ground leases to the related tenants; includes both payments made by the tenants to the ground lessors and straight-line revenue recognized for scheduled increases in the sublease rental payments. (c) For the years ended December 31, 2022, 2021 and 2020, includes $1.5 million, $8.3 million and $57.1 million, respectively, of revenue that has been recognized related to rent and financing relief arrangements granted as a result of the COVID-19 pandemic with a corresponding increase in receivables which are included in other assets, net on the consolidated balance sheet. The Company has elected to account for the lease and nonlease components in its lease contracts as a single component if the timing and pattern of transfer for the separate components are the same and, if accounted for separately, the lease component would classify as an operating lease. Significant Credit and Revenue Concentration STORE Capital’s real estate investments are leased or financed to 587 customers who operate their businesses across 126 industries geographically dispersed throughout 49 states. The primary sectors of the U.S. economy and their proportionate dollar amount of STORE Capital’s investment portfolio at December 31, 2022 are service at 62% , service-oriented retail at 16% and manufacturing at 22% . Only one industry group, restaurants ( 11% ), and only one state, Texas ( 11% ), accounted for 10% or more of the total dollar amount of STORE Capital’s investment portfolio at December 31, 2022. None of the Company’s customers represented more than 10% of the Company’s investment portfolio at December 31, 2022, with the largest customer representing 2.7% . On an annualized basis, as of December 31, 2022, the largest customer represented 2.8% of the Company’s total investment portfolio revenues Real Estate Investments The weighted average remaining noncancelable lease term of the Company’s operating leases with its tenants at December 31, 2022 was approximately 13.1 years. Substantially all the leases are triple net, which means that the lessees are responsible for the payment of all property operating expenses, including property taxes, maintenance and insurance; therefore, the Company is generally not responsible for repairs or other capital expenditures related to the properties while the triple-net leases are in effect. At December 31, 2022, 16 of the Company’s properties were vacant and not subject to a lease. Scheduled future minimum rentals to be received under the remaining noncancelable term of the operating leases in place as of December 31, 2022 are as follows (in thousands): 2023 $ 908,961 2024 902,039 2025 898,423 2026 892,006 2027 880,092 Thereafter 7,402,655 Total future minimum rentals (a) $ 11,884,176 (a) Excludes future minimum rentals to be received under lease contracts associated with sale-leaseback transactions accounted for as financing arrangements. See Loans and Financing Receivables section below. Substantially all the Company’s leases include one or more renewal options (generally two to four five-year options). Since lease renewal periods are exercisable at the option of the lessee, the preceding table presents future minimum lease payments due during the initial lease term only. In addition, the future minimum lease payments presented above do not include any contingent rentals such as lease escalations based on future changes in CPI. Intangible Lease Assets The following details intangible lease assets and related accumulated amortization at December 31 (in thousands): 2022 2021 In-place leases $ 42,519 $ 35,522 Ground lease-related intangibles 19,449 19,449 Total intangible lease assets 61,968 54,971 Accumulated amortization (27,278) (25,285) Net intangible lease assets $ 34,690 $ 29,686 Aggregate lease intangible amortization included in expense was $3.7 million, $3.5 million and $4.3 million during the years ended December 31, 2022, 2021 and 2020, respectively. The amount amortized as a decrease to rental revenue for capitalized above-market lease intangibles was $0.2 million and $1.0 million for the years ended December 31, 2021 and 2020, respectively. Based on the balance of the intangible assets as of December 31, 2022, the aggregate amortization expense is expected to be $3.5 million in 2023, $3.0 million in 2024, $2.5 million in 2025, $2.3 million in 2026 and $2.2 million in 2027. The weighted average remaining amortization period is approximately 10 years for the in-place lease intangibles, and approximately 42 years for the amortizing ground lease-related intangibles. Operating Ground Lease Assets As of December 31, 2022, STORE Capital had operating ground lease assets aggregating $31.9 million. Typically, the lease payment obligations for these leases are the responsibility of the tenants operating on the properties, in accordance with the Company’s leases with those respective tenants. The Company recognized total lease cost for these operating ground lease assets of $3.3 million, $3.3 million, and $2.4 million during the years ended December 31, 2022, 2021 and 2020, respectively. For the years ended December 31, 2022, 2021 and 2020 the Company also recognized in rental revenues $2.8 million, $2.8 million, and $2.1 million, respectively, of sublease revenue associated with its operating ground leases. The Company’s ground leases have remaining terms ranging from less than one year to 89 years, some of which have one or more options to extend the lease for terms ranging from three years to ten years. The weighted average remaining non-cancelable lease term for the ground leases was 22 years at December 31, 2022. The weighted average discount rate used in calculating the operating lease liabilities was 5.7%. The future minimum lease payments to be paid under the operating ground leases as of December 31, 2022 were as follows (in thousands): Ground Ground Leases Leases Paid by Paid by STORE Capital's STORE Capital Tenants (a) Total 2023 $ 4,149 $ 2,629 $ 6,778 2024 55 2,711 2,766 2025 57 2,395 2,452 2026 57 2,233 2,290 2027 57 2,227 2,284 Thereafter 3,014 42,282 45,296 Total lease payments 7,389 54,477 61,866 Less imputed interest (2,663) (26,711) (29,374) Total operating lease liabilities - ground leases $ 4,726 $ 27,766 $ 32,492 (a) STORE Capital’s tenants, who are generally sub-tenants under the ground leases, are responsible for paying the rent under these ground leases. In the event the tenant fails to make the required ground lease payments, the Company would be primarily responsible for the payment, assuming the Company does not re-tenant the property or sell the leasehold interest. Of the total $54.5 million commitment, $19.0 million is due for periods beyond the current term of the Company’s leases with the tenants. Amounts exclude contingent rent due under three leases where the ground lease payment, or a portion thereof, is based on the level of the tenants’ sales. Loans and Financing Receivables The Company’s loans and financing receivables are summarized below (dollars in thousands): Interest Maturity December 31, Type Rate (a) Date 2022 2021 Four mortgage loans receivable 8.03 % 2023 - 2026 $ 104,069 $ 114,911 Three mortgage loans receivable 8.81 % 2032 - 2036 9,967 14,444 Sixteen mortgage loans receivable (b) 8.45 % 2042 - 2062 231,639 216,547 Total mortgage loans receivable 345,675 345,902 Equipment and other loans receivable 7.32 % 2023 - 2036 15,842 25,409 Total principal amount outstanding—loans receivable 361,517 371,311 Unamortized loan origination costs 1,011 1,046 Sale-leaseback transactions accounted for as financing arrangements (c) 7.52 % 2034 - 2043 369,604 255,483 Direct financing receivables 60,899 78,637 Allowance for credit and loan losses (d) (5,925) (9,208) Total loans and financing receivables $ 787,106 $ 697,269 (a) Represents the weighted average interest rate as of the balance sheet date. (b) Four of these mortgage loans allow for prepayment in whole, but not in part, with penalties ranging from 20% to 70% depending on the timing of the prepayment. (c) In accordance with ASC Topic 842, represents sale-leaseback transactions accounted for as financing arrangements rather than as investments in real estate subject to operating leases. Interest rate shown is the weighted average initial rental or capitalization rate on the leases; the leases mature between 2034 and 2043 and the purchase options expire between 2024 and 2042. (d) Balance includes $2.5 million of loan loss reserves recognized prior to December 31, 2019, $2.5 million credit loss reserves recognized upon the adoption of ASC Topic 326 on January 1, 2020, and an aggregate $4.6 million of credit losses recognized since the adoption of ASC Topic 326 net of $3.7 million of loans that were written-off against previously established reserves. Loans Receivable At December 31, 2022, the Company held 38 loans receivable with an aggregate carrying amount of $358.3 million. Twenty-three of the loans are mortgage loans secured by land and/or buildings and improvements on the mortgaged property; the interest rates on 11 of the mortgage loans are subject to increases over the term of the loans. Four of the mortgage loans are shorter-term loans (maturing prior to 2027) that generally require monthly interest-only payments with a balloon payment at maturity. The remaining mortgage loans receivable generally require the borrowers to make monthly principal and interest payments based on a 40-year amortization period with balloon payments, if any, at maturity or earlier upon the occurrence of certain other events. The equipment and other loans generally require the borrower to make monthly payments with a balloon payment at maturity. The long-term mortgage loans receivable generally allow for prepayments in whole, but not in part, without penalty or with penalties ranging from 1% to 20%, depending on the timing of the prepayment, except as noted in the table above. All other loans receivable allow for prepayments in whole or in part without penalty. Absent prepayments, scheduled maturities are expected to be as follows (in thousands): Scheduled Principal Balloon Total Payments Payments Payments 2023 $ 2,452 $ 92,832 $ 95,284 2024 2,224 — 2,224 2025 2,028 — 2,028 2026 1,999 20,371 22,370 2027 1,716 548 2,264 Thereafter 207,495 29,852 237,347 Total principal payments $ 217,914 $ 143,603 $ 361,517 Sale-Leaseback Transactions Accounted for as Financing Arrangements As of December 31, 2022 and 2021, the Company had $369.6 million and $255.5 million, respectively, of investments acquired through sale-leaseback transactions accounted for as financing arrangements rather than as investments in real estate subject to an operating lease; revenue from these arrangements is recognized in interest income rather than as rental revenue. The scheduled future minimum rentals to be received under these agreements (which will be reflected in interest income) as of December 31, 2022, were as follows (in thousands): 2023 $ 28,486 2024 28,622 2025 28,762 2026 28,855 2027 28,956 Thereafter 343,194 Total future scheduled payments $ 486,875 Direct Financing Receivables As of December 31, 2022 and 2021, the Company had $60.9 million and $78.6 million, respectively, of investments accounted for as direct financing leases under previous accounting guidance; the components of these investments were as follows (in thousands): 2022 2021 Minimum lease payments receivable $ 119,839 $ 159,371 Estimated residual value of leased assets 6,889 8,938 Unearned income (65,829) (89,672) Net investment $ 60,899 $ 78,637 As of December 31, 2022, the future minimum lease payments to be received under the direct financing lease receivables are expected to average Provision for Credit Losses In accordance with ASC Topic 326, the Company evaluates the collectibility of its loans and financing receivables at the time each financing receivable is issued and subsequently on a quarterly basis utilizing an expected credit loss model based on credit quality indicators. The Company groups individual loans and financing receivables based on the implied credit rating associated with each borrower. Based on credit quality indicators as of December 31, 2022, $171.8 million of loans and financing receivables were categorized as investment grade and $620.2 million were categorized as non-investment grade. During the year ended December 31, 2022, there were $0.4 million of provisions for credit losses recognized, $3.7 million of write-offs charged against the allowance and no recoveries of amounts previously written off. As of December 31, 2022, the year of origination for loans and financing receivables with a credit quality indicator of investment grade was $14.5 million in 2022, $35.7 million in 2021, none million in 2020, $109.2 million in 2019, none in 2018

Debt

Debt	12 Months Ended
Debt	Dec. 31, 2022
Debt
Debt	4. Debt Credit Facility As of December 31, 2022, the Company had an unsecured revolving credit facility with a group of lenders that was used to partially fund real estate acquisitions pending the issuance of long-term, fixed-rate debt. The credit facility had immediate availability of $600.0 million and an accordion feature of $1.0 billion, which allowed the size of the facility to be increased up to $1.6 billion. At December 31, 2022, the Company had $555.0 million of borrowings outstanding on the facility. Borrowings under the facility required monthly payments of interest at a rate selected by the Company of either (1) LIBOR plus a credit spread ranging from 0.70% to 1.40%, or (2) the Base Rate, as defined in the credit agreement, plus a credit spread ranging from 0.00% to 0.40%. The credit spread used was based on the Company’s credit rating as defined in the credit agreement. The Company was required to pay a facility fee on the total commitment amount ranging from 0.10% to 0.30%. As of December 31, 2022, the applicable credit spread for LIBOR-based borrowings is 0.85% and the facility fee was 0.20%. Under the terms of the facility, the Company is subject to various restrictive financial and nonfinancial covenants which, among other things, require the Company to maintain certain leverage ratios, cash flow and debt service coverage ratios and secured borrowing ratios. Certain of these ratios are based on the Company’s pool of unencumbered assets, which aggregated approximately $8.2 billion at December 31, 2022. The facility is recourse to the Company and, as of December 31, 2022, the Company was in compliance with the covenants under the facility. At December 31, 2022 and 2021, unamortized financing costs related to the Company’s credit facility totaled $2.6 million and $3.7 million, respectively, and are included in other assets, net, on the consolidated balance sheets. Unsecured Notes and Term Loans Payable, net The Company has completed four public offerings of ten-year unsecured notes (“Public Notes”). In March 2018, February 2019 and November 2020, the Company completed public offerings of $350.0 million each in aggregate principal amount. In November 2021, the Company completed a public offering of $375.0 million in aggregate principal amount. The Public Notes have coupon rates of 4.50%, 4.625%, 2.75%, and 2.70%, respectively, and interest is payable semi-annually in arrears in March and September of each year for the 2018 and 2019 Public Notes, May and November of each year for the 2020 Public Notes, and June and December of each year for the 2021 Public Notes. The notes were issued at 99.515%, 99.260%, 99.558%, and 99.877%, respectively, of their principal amounts. The supplemental indentures governing the Public Notes contain various restrictive covenants, including limitations on the Company’s ability to incur additional secured and unsecured indebtedness. As of December 31, 2022, the Company was in compliance with these covenants. The Public Notes can be redeemed, in whole or in part, at par within three months of their maturity date or at a redemption price equal to the sum of (i) the principal amount of the notes being redeemed plus accrued and unpaid interest and (ii) the make-whole premium, as defined in the supplemental indentures governing these notes. In April 2022, the Company entered into a term loan agreement under which the Company borrowed an aggregate $600.0 million of floating-rate, unsecured term loans; the loans consisted of a $400.0 million five-year loan and a $200.0 million seven-year loan (the “Term Loans”). The interest rate on each of the Term Loans reset daily at Daily Simple SOFR plus an adjustment of 0.10% plus a credit rating-based credit spread ranging from 0.75% to 1.60% on the five-year loan and 1.25% to 2.20% on the seven-year loan. As of December 31, 2022, the credit spread applicable to the Company was 0.95% for the five-year loan and 1.25% for the seven-year loan. The Company has entered into interest rate swap agreements that effectively convert the floating rates on the Term Loans to a weighted average fixed rate of 3.68%. The Term Loans were arranged with a group of lenders that also participated in the Company’s unsecured revolving credit facility. The financial covenants of the Term Loans matched the covenants of the unsecured revolving credit facility. As of December 31, 2022, the Company was in compliance with these covenants. The Term Loans were senior unsecured obligations of the Company which require monthly interest payments and may be prepaid at any time; the seven-year loan had a prepayment premium of 2% if repaid in year one and 1% if repaid in year two. In December 2022, the Company entered into a term loan agreement with an initial commitment of $100.0 million of unsecured, floating-rate, short-term term borrowings (the “December 2022 Term Loan”). The December 2022 Term Loan matured at the earlier of March 31, 2023 or the consummation of the Merger and the interest rate reset daily at Daily Simple SOFR plus an adjustment of 0.10% plus a credit rating-based credit spread ranging from 0.75% to 1.60%. The credit spread applicable to the Company as of December 31, 2022 was 0.95%. The term loan agreement included an incremental borrowing feature that allows the Company to request up to an additional $100.0 million of term borrowings after December 31, 2022. The December 2022 Term Loan was arranged with a lender that also participated in the Company’s unsecured revolving credit facility. The financial covenants of the December 2022 Term Loan matched the covenants of the unsecured revolving credit facility. As of December 31, 2022, the Company was in compliance with these covenants. The December 2022 Term Loan was a senior unsecured obligation of the Company and required monthly interest payments. As of December 31, 2022 the Company had borrowings of $90.0 million bearing an interest rate of 5.35%. The Company has entered into Note Purchase Agreements (“NPAs”) with institutional purchasers that provided for the private placement of three series of senior unsecured notes aggregating $375 million (the “Notes”). Interest on the Notes is payable semi-annually in arrears in May and November of each year. On each interest payment date, the interest rate on each series of Notes may be increased by 1.0% should the Company’s Applicable Credit Rating (as defined in the NPAs) fail to be an investment-grade credit rating; the increased interest rate would remain in effect until the next interest payment date on which the Company obtains an investment grade credit rating. The Company may prepay at any time all, or any part, of any series of Notes, in an amount not less than 5% of the aggregate principal amount of the series then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid plus a Make-Whole Amount (as defined in the NPAs). The Notes are senior unsecured obligations of the Company. In November 2022, the Company repaid its $75.0 million Series A senior unsecured notes at maturity which bore an interest rate of 4.95%. As of December 31, 2022, the Company had $300.0 million of senior unsecured notes outstanding. The NPAs contain a number of financial covenants that are similar to the Company’s unsecured credit facility as summarized above. Subject to the terms of the NPAs and the Notes, upon certain events of default, including, but not limited to, (i) a payment default under the Notes, and (ii) a default in the payment of certain other indebtedness by the Company or its subsidiaries, all amounts outstanding under the Notes will become due and payable at the option of the purchasers. As of December 31, 2022, the Company was in compliance with its covenants under the NPAs. The Company’s senior unsecured notes and term loans payable are summarized below (dollars in thousands): Maturity Interest December 31, December 31, Date Rate 2022 2021 Notes Payable: Series A issued November 2015 $ — $ 75,000 Series B issued November 2015 Nov. 2024 5.24 % 100,000 100,000 Series C issued April 2016 Apr. 2026 4.73 % 200,000 200,000 Public Notes issued March 2018 Mar. 2028 4.50 % 350,000 350,000 Public Notes issued February 2019 Mar. 2029 4.625 % 350,000 350,000 Public Notes issued November 2020 Nov. 2030 2.75 % 350,000 350,000 Public Notes issued November 2021 Dec. 2031 2.70 % 375,000 375,000 Total notes payable 1,725,000 1,800,000 Term Loans: Term Loan issued December 2022 Mar. 2023 (a) 5.35 % (b) 90,000 — Term Loan issued April 2022 Apr. 2027 3.58 % (c) 400,000 — Term Loan issued April 2022 Apr. 2029 3.88 % (d) 200,000 — Total term loans 690,000 — Unamortized discount (4,113) (4,740) Unamortized deferred financing costs (13,481) (12,447) Total unsecured notes and term loans payable, net $ 2,397,406 $ 1,782,813 (a) Loan matures at the earlier of March 31, 2023 or the consummation of the Merger. (b) Loan is a floating-rate loan which resets daily at Daily Simple SOFR + an adjustment of 0.10% + the applicable credit spread which was 0.95% at December 31, 2022. (c) Loan is a floating-rate loan which resets daily at Daily Simple SOFR + an adjustment of 0.10% + the applicable credit spread which was 0.95% at December 31, 2022. The Company has entered into six interest rate swap agreements that effectively convert the floating rate to the fixed rate noted as of December 31, 2022. (d) Loan is a floating-rate loan which resets daily at Daily Simple SOFR + an adjustment of 0.10% + the applicable credit spread which was 1.25% at December 31, 2022. The Company has entered into one interest rate swap agreement that effectively converts the floating rate to the fixed rate noted as of December 31, 2022. Non-recourse Debt Obligations of Consolidated Special Purpose Entities, net During 2012, the Company implemented its STORE Master Funding debt program pursuant to which certain of its consolidated special purpose entities issue multiple series of non-recourse net-lease mortgage notes from time to time that are collateralized by the assets and related leases (collateral) owned by these entities. One of the principal features of the program is that, as additional series of notes are issued, new collateral is contributed to the collateral pool, thereby increasing the size and diversity of the collateral pool for the benefit of all noteholders, including those who invested in prior series. Another feature of the program is the ability to substitute collateral from time to time subject to meeting certain prescribed conditions and criteria. The notes issued under this program are generally segregated into Class A amortizing notes and Class B non-amortizing notes. The Company has retained the Class B notes which aggregate $190.0 million at December 31, 2022. The Class A notes require monthly principal and interest payments with a balloon payment due at maturity and these notes may be prepaid at any time, subject to a yield maintenance prepayment premium if prepaid more than 24 or 36 months prior to maturity. As of December 31, 2022, the aggregate collateral pool securing the net-lease mortgage notes was comprised primarily of single-tenant commercial real estate properties with an aggregate investment amount of approximately $3.6 billion. In connection with obtaining the Term Loans in April 2022, the Company prepaid, without penalty, $134.5 million of STORE Master Funding Series 2014-1, Class A-2 notes, which bore an interest rate of 5.0% and were scheduled to mature in 2024; and the Company recognized $0.8 million of accelerated amortization of deferred financing costs associated with the prepayment. A number of additional consolidated special purpose entity subsidiaries of the Company have financed their real estate properties with traditional first mortgage debt. The notes generally require monthly principal and interest payments with balloon payments due at maturity. In general, these mortgage notes payable can be prepaid in whole or in part upon payment of a yield maintenance premium. The mortgage notes payable are collateralized by real estate properties owned by these consolidated special purpose entity subsidiaries with an aggregate investment amount of approximately $250.7 million at December 31, 2022. The mortgage notes payable, which are obligations of the consolidated special purpose entities described in Note 2, contain various covenants customarily found in mortgage notes, including a limitation on the issuing entity’s ability to incur additional indebtedness on the underlying real estate. Although this mortgage debt generally is non-recourse, there are customary limited exceptions to recourse for matters such as fraud, misrepresentation, gross negligence or willful misconduct, misapplication of payments, bankruptcy and environmental liabilities. Certain of the mortgage notes payable also require the posting of cash reserves with the lender or trustee if specified coverage ratios are not maintained by the Company or one of its tenants. The Company’s non-recourse debt obligations of consolidated special purpose entity subsidiaries are summarized below (dollars in thousands): Outstanding Balance Maturity Interest December 31, Date Rate 2022 2021 Non-recourse net-lease mortgage notes: $140,000 Series 2014-1, Class A-2 (a) 5.00 % — 134,692 $150,000 Series 2018-1, Class A-1 Oct. 2024 (b) 3.96 % 140,552 142,051 $50,000 Series 2018-1, Class A-3 Oct. 2024 (b) 4.40 % 48,417 48,917 $270,000 Series 2015-1, Class A-2 Apr. 2025 (b) 4.17 % 259,650 260,999 $200,000 Series 2016-1, Class A-1 (2016) Oct. 2026 (b) 3.96 % 175,861 180,190 $82,000 Series 2019-1, Class A-1 Nov. 2026 (b) 2.82 % 78,180 78,590 $46,000 Series 2019-1, Class A-3 Nov. 2026 (b) 3.32 % 45,291 45,521 $135,000 Series 2016-1, Class A-2 (2017) Apr. 2027 (b) 4.32 % 120,182 123,046 $228,000 Series 2018-1, Class A-2 Oct. 2027 (c) 4.29 % 213,638 215,918 $164,000 Series 2018-1, Class A-4 Oct. 2027 (c) 4.74 % 158,807 160,447 $168,500 Series 2021-1, Class A-1 Jun. 2028 (b) 2.12 % 167,236 168,079 $89,000 Series 2021-1, Class A-3 Jun. 2028 (b) 2.86 % 88,333 88,778 $168,500 Series 2021-1, Class A-2 Jun. 2033 (c) 2.96 % 167,236 168,079 $89,000 Series 2021-1, Class A-4 Jun. 2033 (c) 3.70 % 88,333 88,778 $244,000 Series 2019-1, Class A-2 Nov. 2034 (c) 3.65 % 232,634 233,854 $136,000 Series 2019-1, Class A-4 Nov. 2034 (c) 4.49 % 133,903 134,583 Total non-recourse net-lease mortgage notes 2,118,253 2,272,522 Non-recourse mortgage notes: $13,000 note issued May 2012 5.195 % — 9,961 $26,000 note issued August 2012 5.05 % — 20,085 $6,400 note issued November 2012 4.707 % — 4,938 $6,944 notes issued March 2013 Apr. 2038 4.50 % (d) 5,103 5,332 $11,895 note issued March 2013 Apr. 2023 4.7315 % (d) 8,935 9,309 $17,500 note issued August 2013 Sept. 2023 5.46 % 13,701 14,212 $10,075 note issued March 2014 Apr. 2024 5.10 % 8,602 8,808 $65,000 note issued June 2016 Jul. 2026 4.75 % 57,980 59,223 $41,690 note issued March 2019 Mar. 2029 4.80 % 40,662 41,291 $6,350 notes issued March 2019 (assumed in December 2020) Apr. 2049 4.64 % 5,993 6,106 Total non-recourse mortgage notes 140,976 179,265 Unamortized discount (395) (496) Unamortized deferred financing costs (20,364) (25,583) Total non-recourse debt obligations of consolidated special purpose entities, net $ 2,238,470 $ 2,425,708 (a) Notes were repaid, without penalty, in April 2022 using a portion of the proceeds from the aggregate $600.0 million of term loans the Company entered into in April 2022. (b) Prepayable, without penalty, 24 months prior to maturity. (c) Prepayable, without penalty, 36 months prior to maturity. (d) Mortgage note was repaid, without penalty, in January 2023. Credit Risk Related Contingent Features The Company has agreements with derivative counterparties, which provide generally that the Company could be declared in default on its derivative obligations if the Company defaults on the underlying indebtedness. Debt Maturity Schedule As of December 31, 2022, the scheduled maturities, including balloon payments, on the Company’s aggregate debt obligations are as follows (in thousands): Scheduled Principal Balloon Payments Payments Total 2023 $ 22,628 $ 117,285 $ 139,913 2024 21,908 293,798 315,706 2025 19,777 256,612 276,389 2026 17,654 532,142 549,796 2027 9,221 860,472 869,693 Thereafter 26,882 2,495,850 2,522,732 $ 118,070 $ 4,556,159 $ 4,674,229

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2022
Income Taxes
Income Taxes	5. Income Taxes The Company’s total current income tax expense (benefit) was as follows (in thousands): Year ended December 31, 2022 2021 2020 Federal income tax $ — $ — $ (4) State income tax 884 813 588 Total current income tax expense $ 884 $ 813 $ 584 The Company’s deferred income tax expense and its ending balance in deferred tax assets and liabilities were immaterial for 2022, 2021 and 2020. The Company files federal, state and local income tax returns. Certain state income tax returns filed for 2018 and tax returns filed for 2019 through 2022 remain subject to examination. Prior to the Merger, the Company had a net operating loss carryforward (“NOL”) for income tax purposes of $1.5 million that was generated during the year ended December 31, 2011 and, therefore, has no impact on income tax expense for the three years ended December 31, 2022. This loss is no longer available following the Merger. Management of the Company determines whether any tax positions taken or expected to be taken meet the “more-likely-than-not” threshold of being sustained by the applicable federal, state or local tax authority. As of December 31, 2022 and 2021, management concluded that there is no tax liability relating to uncertain income tax positions. The Company’s policy is to recognize interest related to any underpayment of income taxes as interest expense and to recognize any penalties as operating expenses. There was no accrual for interest or penalties at December 31, 2022 and 2021. The Company’s common stock distributions were characterized for federal income tax purposes as follows (per share): Year ended December 31, 2022 2021 2020 Ordinary income dividends $ 1.1550 $ 1.1606 $ 1.0677 Capital gain dividends — 0.0785 0.0180 Return of capital — 0.2259 0.3243 Cash liquidation distributions 0.4100 — — Total $ 1.5650 $ 1.4650 $ 1.4100

Stockholders' Equity

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2022
Stockholders' Equity
Stockholders' Equity	6. Stockholders’ Equity In November 2020, the Company established its fifth “at the market” equity distribution program, or ATM program, pursuant to which, from time to time, it may offer and sell up to $900.0 million of registered shares of common stock through a group of banks acting as its sales agents (the “2020 ATM Program”). The following tables outline the common stock issuances under the 2020 ATM Program (in millions except share and per share information): Year Ended December 31, 2022 Shares Sold Weighted Average Price per Share Gross Proceeds Sales Agents' Commissions Other Offering Expenses Net Proceeds 8,607,771 $ 29.38 $ 252.9 $ (3.1) $ (0.2) $ 249.6 Inception of Program Through December 31, 2022 Shares Sold Weighted Average Price per Share Gross Proceeds Sales Agents' Commissions Other Offering Expenses Net Proceeds 19,449,302 $ 31.55 $ 613.7 $ (8.5) $ (0.8) $ 604.4 The Company declared dividends payable to common stockholders totaling $332.4 million, $405.2 million, and $364.0 million during the years ended December 31, 2022, 2021 and 2020, respectively.

Long-Term Incentive Plans

Long-Term Incentive Plans	12 Months Ended
Long-Term Incentive Plans	Dec. 31, 2022
Long-Term Incentive Plans
Long-Term Incentive Plans	7. Long-Term Incentive Plans In November 2014, the Company’s Board of Directors approved the adoption of the STORE Capital Corporation 2015 Omnibus Equity Incentive Plan (the “2015 Plan”), which permits the issuance of up to 6,903,076 shares of common stock, which represented 6% of the number of issued and outstanding shares of the Company’s common stock upon the completion of the IPO. As of December 31, 2022, 2,507,375 shares are available for grant under the 2015 Plan. In 2012, the Company’s Board of Directors established the STORE Capital Corporation 2012 Long-Term Incentive Plan (the “2012 Plan”) which permits the issuance of up to 1,035,400 shares of common stock. During 2022, the plan expired and as of December 31, 2022, no shares remain available for grant under the 2012 Plan. Both the 2015 and 2012 Plans allow for awards to officers, directors and employees of the Company in the form of restricted shares of the Company’s common stock and other equity-based awards including performance-based grants. The following table summarizes the restricted stock award (“RSA”) activity: 2022 2021 2020 Weighted Weighted Weighted Number of Average Share Number of Average Share Number of Average Share Shares Price (1) Shares Price (1) Shares Price (1) Outstanding non-vested shares, beginning of year 437,424 $ 25.96 639,554 $ 23.69 285,238 $ 27.70 Shares granted 233,147 $ 29.47 195,278 $ 34.03 491,009 $ 22.63 Shares vested (166,770) $ 26.32 (313,518) $ 26.58 (130,642) $ 28.15 Shares forfeited (56,954) $ 24.93 (83,890) $ 25.09 (6,051) $ 30.89 Outstanding non-vested shares, end of year 446,847 $ 27.79 437,424 $ 25.96 639,554 $ 23.69 (1) Grant date fair value The Company grants RSAs to its officers, directors and employees. Generally, restricted shares granted to the Company’s employees vest in 25% increments in February or May of each year. The independent directors receive annual grants that vest at the end of each term served. As permitted, the Company does not estimate a forfeiture rate for non-vested shares. Accordingly, unexpected forfeitures will lower share-based compensation expense during the applicable period. Under the terms of the 2015 and 2012 Plans, the Company pays non-refundable dividends to the holders of non-vested shares. Applicable accounting guidance requires that the dividends paid to holders of these non-vested shares be charged as compensation expense to the extent that they relate to non-vested shares that do not or are not expected to vest. The Company estimates the fair value of RSAs at the date of grant and recognizes that amount in expense over the vesting period as the greater of the amount amortized on a straight-line basis or the amount vested. The fair value of the RSAs is based on the closing price per share of the Company’s common stock on the date of the grant. The Company has granted restricted stock unit awards (“RSUs”) with (a) both a market and a performance condition or (b) a market condition to its executive officers; these awards also contain a service condition. The number of common shares to be earned from each grant range from zero to 100% of the total RSUs granted over a three-year performance period. The following table summarizes the RSU activity: Number of RSUs 2022 (1) 2021 2020 Non-vested and outstanding, beginning of year 1,005,754 1,298,175 1,203,018 RSUs granted 629,307 846,896 534,141 RSUs vested (217,987) (468,466) (376,961) RSUs forfeited — (338,839) (62,023) RSUs not earned (195,036) (332,012) — Non-vested and outstanding, end of year 1,222,038 1,005,754 1,298,175 (1) In connection with the completion of the Merger on February 3, 2023, outstanding performance-based RSUs became earned and vested in accordance with the actual level of performance of STORE or a minimum of target in as of the date of execution of the Merger Agreement. For the 2021 and 2022 grants, 75% of the common shares to be earned is based on the Company’s total shareholder return (“TSR”) measured against a market index and 25% of shares to be earned is based on the growth in a key Company performance indicator over a three-year period. For the 2018 through 2020 grants, one one The Company valued the RSUs with a performance condition based on the closing price per share of the Company’s common stock on the date of the grant multiplied by the number of awards expected to be earned. The Company valued the RSUs with a market condition using a Monte Carlo simulation model on the date of grant which resulted in grant date fair values of $6.7 million, $7.8 million and $5.4 million for the 2022, 2021 and 2020 and, respectively. The estimated fair value is amortized to expense on a tranche-by-tranche basis ratably over the vesting periods. The following assumptions were used in the Monte Carlo simulation for computing the grant date fair value of the RSUs with a market condition for each grant year: 2022 2021 2020 Volatility 45.79 % 46.01 % 19.31 % Risk-free interest rate 1.77 % 0.25 % 1.42 % Dividend yield 0.00 % 0.00 % 0.00 % The 2015 and 2012 Plans each allow the Company’s employees to elect to satisfy the minimum statutory tax withholding obligation due upon vesting of RSAs and RSUs by allowing the Company to repurchase an amount of shares otherwise deliverable on the vesting date having a fair market value equal to the withholding obligation. During the years ended December 31, 2022, 2021 and 2020, the Company repurchased an aggregate 202,796 shares, 288,132 shares and 139,131 shares, respectively, in connection with this tax withholding obligation. Compensation expense for equity-based payments totaled $12.4 million, $32.2 million, and $4.7 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in general and administrative expenses. At December 31, 2022, STORE Capital had $17.4 million of unrecognized compensation cost related to non-vested equity- based compensation arrangements which was to be recognized through February 2024.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies
Commitments and Contingencies	8. Commitments and Contingencies The Company is subject to various legal proceedings and claims that arise in the ordinary course of its business. Management believes that the final outcome of such matters will not have a material adverse effect on the Company’s financial position or results of operations. In connection with the Merger, six lawsuits were filed by purported stockholders against the Company and previous members of the Company Board. The complaints generally alleged, among other things, that the preliminary proxy statement filed by the Company in connection with the Merger failed to disclose allegedly material information in violation of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 14a-9 thereunder. Plaintiffs in each pending lawsuit sought, among other things, an injunction barring the Merger or, in the alternative, rescission of the Merger to the extent it was already implemented, and an award of damages. Prior to the Closing Date of the Merger, all six lawsuits were dismissed. In the normal course of business, the Company enters into various types of commitments to purchase real estate properties. These commitments are generally subject to the Company’s customary due diligence process and, accordingly, a number of specific conditions must be met before the Company is obligated to purchase the properties. As of December 31, 2022, the Company had commitments to its customers to fund improvements to owned or mortgaged real estate properties totaling approximately $150.8 million, of which $129.1 million is expected to be funded in the next twelve months. These additional investments will generally result in increases to the rental revenue or interest income due under the related contracts. The Company has entered into lease agreements with an unrelated third party for its corporate office space that will expire in July 2027 and July 2029; the leases each allow for one five-year renewal period at the option of the Company. During the years ended December 31, 2022, 2021 and 2020, total rent expense was $829,000, $735,000, and $737,000, respectively, which is included in general and administrative expense on the consolidated statements of income. At December 31, 2022, the Company’s future minimum rental commitment under this noncancelable operating lease, excluding the renewal option period, was approximately $977,000 in 2023, $994,000 in 2024, $1.0 million in 2025, $1.0 million in 2026, $701,000 in 2027, and $292,000 thereafter. Upon adoption of ASC Topic 842, the Company recorded a right-of-use asset and lease liability related to this lease; at December 31, 2022, the balance of the right-of-use asset was $3.9 million, which is included in other assets, net on the consolidated balance sheet, and the balance of the related lease liability was $4.4 million. The Company has employment agreements with each of its executive officers that provide for minimum annual base salaries, and annual cash and equity incentive compensation based on the satisfactory achievement of reasonable performance criteria and objectives to be adopted by the Company’s Board of Directors each year. In the event an executive officer’s employment terminates under certain circumstances, the Company would be liable for cash severance, continuation of healthcare benefits and, in some instances, accelerated vesting of equity awards that he or she has been awarded as part of the Company’s incentive compensation program. The Company has a defined contribution retirement savings plan qualified under Section 401(a) of the Internal Revenue Code (the 401(k) Plan). The 401(k) Plan is available to employees who have completed 30 days of service with the Company. STORE Capital provides a matching contribution in cash, up to a maximum of 4% of compensation, which vests immediately. The matching contributions made by the Company totaled approximately $614,000 in 2022, $603,000 in 2021, and $515,000 in 2020.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
Fair Value of Financial Instruments	Dec. 31, 2022
Fair Value of Financial Instruments
Fair Value of Financial Instruments	9. Fair Value of Financial Instruments The Company’s derivatives are required to be measured at fair value in the Company’s consolidated financial statements on a recurring basis. Derivatives are measured under a market approach, using prices obtained from a nationally recognized pricing service and pricing models with market observable inputs such as interest rates and equity index levels. These measurements are classified as Level 2 within the fair value hierarchy. The aggregate fair value of the Company’s derivative instruments was an asset of $31.4 million at December 31, 2022; the Company had no derivatives outstanding at December 31, 2021. Derivative assets are included in other assets, net on the consolidated balance sheets. In addition to the disclosures for assets and liabilities required to be measured at fair value at the balance sheet date, companies are required to disclose the estimated fair values of all financial instruments, even if they are not carried at their fair value. The fair values of financial instruments are estimates based on market conditions and perceived risks at December 31, 2022 and 2021. These estimates require management’s judgment and may not be indicative of the future fair values of the assets and liabilities. Financial assets and liabilities for which the carrying values approximate their fair values include cash and cash equivalents, restricted cash, accounts receivable, accounts payable and tenant deposits. Generally, these assets and liabilities are short-term in duration and are recorded at fair value on the consolidated balance sheets. The Company believes the carrying value of the borrowings on its credit facility approximate fair value based on their nature, terms and variable interest rate. Additionally, the Company believes the carrying values of its fixed-rate loans receivable approximate fair values based on market quotes for comparable instruments or discounted cash flow analyses using estimates of the amount and timing of future cash flows, market rates and credit spreads. The estimated fair values of the Company’s aggregate long-term debt obligations have been derived based on market observable inputs such as interest rates and discounted cash flow analyses using estimates of the amount and timing of future cash flows, market rates and credit spreads. These measurements are classified as Level 2 within the fair value hierarchy. At December 31, 2022, these debt obligations had an aggregate carrying value of $4.6 billion and an estimated fair value of $4.1 billion. At December 31, 2021, these debt obligations had an aggregate carrying value of $4.2 billion and an estimated fair value of $4.5 billion.

Subsequent Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2022
Subsequent Events
Subsequent Events	10. Subsequent Events Completion of Merger Pursuant to the terms and conditions of the Merger Agreement, at or immediately prior to, as applicable, the effective time of the Merger (the “Merger Effective Time”), among other things: ● Common Stock – Each share of common stock of the Company, par value $0.01 per share (“Common Stock”), other than shares of Common Stock held by STORE Capital, the Parent Parties or any of their respective wholly-owned subsidiaries, issued and outstanding immediately prior to the Merger Effective Time, was automatically cancelled and converted into the right to receive an amount in cash equal to $32.25 per share (the “Merger Consideration”), without interest. ● Restricted Stock Awards – Each outstanding RSA automatically became fully vested and all restrictions and repurchase rights thereon lapsed, and thereafter all shares of Common Stock represented thereby were considered outstanding for all purposes under the Merger Agreement and subject to the right to receive an amount in cash equal to the Merger Consideration, less required withholding taxes. ● Performance-based Restricted Stock Unit Awards – Outstanding performance-based RSUs became earned and vested in accordance with the actual level of performance of STORE or a minimum of target in accordance with the underlying agreements as of the date of execution of the Merger Agreement, and thereafter were cancelled and, in exchange therefor, each holder of any such cancelled vested RSUs ceased to have any rights with respect thereto, except the right to receive as of the Merger Effective Time, in consideration for the cancellation of such vested RSUs and in settlement therefor, an amount in cash equal to (1) the product of (a) the Merger Consideration and (b) the number of so-determined earned performance shares subject to such vested RSUs, without interest, less required withholding taxes and (2) an amount equivalent to all accrued and unpaid cash dividends that would have been paid on the number of so-determined earned shares of Common Stock subject to such vested RSUs as if they had been issued and outstanding from the date of grant up to, and including, the Merger Effective Time, less required withholding taxes. Debt Repayments and Termination of Agreements In connection with the completion of the Merger, on February 3, 2023, STORE repaid in full all indebtedness, liabilities and other obligations outstanding under, and terminated, the Second Amended and Restated Credit Agreement, dated June 2021, which provided for the Company’s senior unsecured revolving credit facility and the Term Loan Agreement, dated April 2022, which provided for floating-rate, unsecured term loans. At the time of repayment, the outstanding balance on the unsecured revolving credit facility was $600.0 million and the aggregate borrowings under the Term Loan Agreement were $600.0 million. Additionally, in connection with the completion of the Merger, on February 3, 2023, the Company repaid $130.0 million of outstanding borrowings on the December 2022 Term Loan at maturity. Upon completion of the Merger and pursuant to the Company’s Note Purchase Agreements (Note 4), the Company was required to offer to prepay the $300.0 million of outstanding aggregate principal amounts of Notes. Following the closing of the repurchase offer period, the Company repurchased $185.6 million in aggregate principal amounts of such Notes. Unsecured Revolving Credit Facility and Term Loan In connection with the completion of the Merger, on February 3, 2023, the Company entered into a credit agreement (the “Unsecured Credit Agreement”) which provides for a senior unsecured revolving credit facility of up to $500.0 million (the “Unsecured Revolving Credit Facility”) and an unsecured, variable-rate term loan of $600.0 million (the “Unsecured Term Loan”). The Unsecured Revolving Credit Facility matures in February 2027 and includes two six-month extension options, subject to certain conditions and the payment of a 0.075% extension fee. Borrowings under the Unsecured Revolving Credit Facility require monthly payments of interest at a rate selected by the Company of either (1) SOFR plus an adjustment of 0.10% plus a credit spread ranging from 1.00% to 1.45%, or (2) a Base Rate, as defined in the Unsecured Credit Agreement, plus a credit spread ranging from 0.00% to 0.45%. The credit spread used is based on the Company’s consolidated total leverage ratio as defined in the Unsecured Credit Agreement. The Company is also required to pay a facility fee on the total commitment amount of the Unsecured Revolving Credit Facility ranging from 0.15% to 0.30%. The Unsecured Term Loan matures in April 2027 and the interest rate resets daily at Daily Simple SOFR plus an adjustment of 0.10% plus a credit spread ranging from 1.10% to 1.70% based on the Company’s consolidated total leverage ratio as defined in the Unsecured Revolving Credit Agreement. The Company’s existing cash flow hedges effectively convert the variable-rate on the Unsecured Term Loan to a fixed rate of 3.88% . The Unsecured Credit Agreement also includes capacity for uncommitted incremental term loans and revolving commitments, whether in the form of additional facilities or an increase to the existing facilities, up to an aggregate amount for all revolving commitments and term loans under the Unsecured Credit Agreement of $2.5 billion. The Unsecured Credit Agreement contains various restrictive financial and nonfinancial covenants which, among other things, require the Company to maintain certain leverage ratios, cash flow and debt service coverage ratios and secured borrowing ratios. In March 2023, the Company entered into an incremental amendment to the Unsecured Credit Agreement which provides for increases to the outstanding Unsecured Revolving Credit Facility and Unsecured Term Loan in an aggregate principal amount of $350.0 million, consisting of (i) increases to the commitments under the Unsecured Revolving Credit Facility in an amount of $150.0 million and (ii) increases to the Unsecured Term Loan in an amount of $200.0 million. In connection with the amendment to the Unsecured Credit Agreement, the Company entered into one interest rate swap agreement with a notional amount of $200.0 million that effectively converts the incremental borrowings on the Unsecured Term Loan to a fixed interest rate of 5.17% for the remaining term of the loan. Secured Term Loan Facility In connection with the completion of the Merger, on February 3, 2023, the Company and certain of its consolidated special purpose entities entered into a credit agreement (the “Credit Agreement”) which provides for a secured term loan of $2.0 billion (the “Secured Term Loan Facility”). Borrowings outstanding under the Secured Term Loan Facility require monthly payments of interest at a floating-rate equal to one-month SOFR, plus a spread of 2.75%; provided that, if the amount outstanding three months following the Closing Date is greater than $1.5 billion, the spread will automatically increase to 3.00%. In conjunction with entering into the Secured Term Loan Facility, the Company entered into three interest rate swap agreements with an aggregate notional amount of $750.0 million that effectively convert a portion of the borrowings to a fixed interest rate of 7.60%. As of February 3, 2023, the effective weighted average interest rate on the Secured Term Loan Facility was 7.42%. The Secured Term Loan Facility is secured by a collateral pool of properties owned by consolidated special purpose entities of the Company and is generally non-recourse to the Company, subject to certain customary limited exceptions. The consolidated special purpose entities are subject to certain restrictive covenants under the Credit Agreement, including with respect to the type of business they may conduct and other customary covenants for a bankruptcy-remote special purpose entity. The Credit Agreement permits substitution of real estate collateral from time to time for assets securing the Secured Term Loan Facility, subject to certain conditions and limitations. In March 2023, the Company paid down $515.0 million in aggregate principal amount of indebtedness under the Credit Agreement. Notice of Delisting On February 3, 2023, in connection with the completion of the Merger, the Company requested that the NYSE suspend trading in the shares of Common Stock and filed with the SEC a notification of removal from listing and registration on Form 25 to effect the delisting of the Common Stock from the NYSE and deregistration of the Common Stock under Section 12(b) of the Securities Exchange Act of 1934, as amended. Unregistered Sales of Equity Securities On February 3, 2023, the Company issued 125 Series A Preferred Units (the “Series A Preferred Units”) for an aggregate cash amount of $125,000. The issuance of the Series A Preferred Units was made through a private placement in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
Schedule III - Real Estate and Accumulated Depreciation	Dec. 31, 2022
Schedule III - Real Estate and Accumulated Depreciation
Schedule III - Real Estate and Accumulated Depreciation	STORE Capital Corporation Schedule III - Real Estate and Accumulated Depreciation (Dollars in Thousands) Descriptions (a) Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross amount at December 31, 2022 (b) (c) Property Location Number of Properties Encumbrances Land & Improvements Building & Improvements Land & Improvements Building & Improvements Land & Improvements Building & Improvements Total Accumulated Depreciation (d) (e) Years Constructed Years Acquired Alabama 32 $ - $ 29,876 $ 79,440 $ - $ 1,858 $ 29,876 $ 81,298 $ 111,174 $ (18,141) 1950 - 2017 2012 - 2022 Alabama 20 (f) 14,994 26,005 297 4,605 15,291 30,610 45,901 (6,600) 1964 - 2014 2011 - 2021 Alaska 9 - 9,716 25,224 - - 9,716 25,224 34,940 (2,014) 1953 - 2005 2019 - 2020 Alaska 1 (f) 828 702 - - 828 702 1,530 (281) 2005 2016 Arizona 49 - 65,400 119,938 9,458 34,553 74,858 154,491 229,349 (23,871) 1946 - 2021 2012 - 2022 Arizona 42 (f) 63,589 127,075 6,575 40,634 70,164 167,709 237,873 (33,963) 1976 - 2019 2011 - 2022 Arkansas 28 - 26,817 44,844 17 507 26,834 45,351 72,185 (11,285) 1966 - 2011 2015 - 2019 Arkansas 20 (f) 12,781 24,140 14 4,087 12,795 28,227 41,022 (8,342) 1950 - 2012 2013 - 2022 California 41 - 141,429 201,820 8,270 48,732 149,699 250,552 400,251 (38,511) 1930 - 2022 2012 - 2022 California 38 (f) 57,008 52,238 1,454 4,463 58,462 56,701 115,163 (13,912) 1940 - 2020 2012 - 2022 California 1 13,701 4,528 22,213 - - 4,528 22,213 26,741 (4,896) 2008 2013 Colorado 28 - 37,170 137,747 3,703 13,223 40,873 150,970 191,843 (27,869) 1967 - 2016 2014 - 2022 Colorado 14 (f) 14,413 19,900 1,602 9,446 16,015 29,346 45,361 (5,793) 1953 - 2021 2013 - 2022 Connecticut 21 - 14,672 45,044 1,207 2,785 15,879 47,829 63,708 (5,788) 1779 - 2022 2015 - 2021 Connecticut 9 (f) 5,657 16,179 - - 5,657 16,179 21,836 (5,043) 1860 - 1998 2013 - 2020 Delaware 1 - 3,554 5,541 - - 3,554 5,541 9,095 (927) 1973 2019 District of Columbia 1 - 1,108 805 - - 1,108 805 1,913 (75) 1930 2021 Florida Jacksonville, Florida 9 - 6,943 13,612 313 975 7,256 14,587 21,843 (3,062) 1980 - 2018 2012 - 2018 Jacksonville, Florida 8 (f) 6,902 15,628 4,039 21,050 10,941 36,678 47,619 (9,047) 1972 - 2014 2011 - 2018 All Other Florida 96 - 139,897 181,506 12,044 43,403 151,941 224,909 376,850 (32,705) 1950 - 2022 2011 - 2022 All Other Florida 49 (f) 34,917 104,728 5,501 13,213 40,418 117,941 158,359 (28,444) 1950 - 2014 2012 - 2021 Georgia Macon, Georgia 6 - 8,487 28,165 - - 8,487 28,165 36,652 (2,001) 1947 - 1982 2021 - 2021 Macon, Georgia 2 (f) 1,150 1,208 19 101 1,169 1,309 2,478 (492) 1975 - 2008 2012 - 2022 All Other Georgia 54 - 79,278 212,117 9,286 14,595 88,564 226,712 315,276 (35,152) 1939 - 2022 2011 - 2022 All Other Georgia 97 (f) 82,017 139,077 2,617 20,252 84,634 159,329 243,963 (42,173) 1960 - 2021 2011 - 2021 Idaho 14 - 21,338 52,049 - 5,842 21,338 57,891 79,229 (4,467) 1946 - 2006 2014 - 2022 Idaho 6 (f) 10,979 26,678 9,169 3,013 20,148 29,691 49,839 (3,850) 2007 - 2021 2014 - 2020 Illinois Chicago, Illinois 6 - 16,337 22,122 36 456 16,373 22,578 38,951 (2,760) 1920 - 2015 2015 - 2021 Chicago, Illinois 7 (f) 9,902 14,881 1,575 6,850 11,477 21,731 33,208 (4,456) 1886 - 2021 2012 - 2022 Albion, Illinois 5 - 9,986 33,298 - - 9,986 33,298 43,284 (2,519) 1950 - 1998 2021 All Other Illinois 133 - 95,134 234,320 2,453 21,026 97,587 255,346 352,933 (41,610) 1870 - 2019 2012 - 2022 All Other Illinois 40 (f) 57,775 111,569 1,834 8,938 59,609 120,507 180,116 (30,896) 1880 - 2015 2011 - 2021 Indiana 53 - 78,539 144,348 1,019 4,920 79,558 149,268 228,826 (22,644) 1927 - 2019 2014 - 2022 Indiana 38 (f) 28,244 70,246 205 992 28,449 71,238 99,687 (14,927) 1959 - 2013 2011 - 2021 Descriptions (a) Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross amount at December 31, 2022 (b) (c) Property Location Number of Properties Encumbrances Land & Improvements Building & Improvements Land & Improvements Building & Improvements Land & Improvements Building & Improvements Total Accumulated Depreciation (d) (e) Years Constructed Years Acquired Iowa 16 - 23,092 29,382 - 20 23,092 29,402 52,494 (4,044) 1950 - 2009 2014 - 2022 Iowa 17 (f) 9,716 22,153 947 6,003 10,663 28,156 38,819 (8,867) 1960 - 2013 2011 - 2018 Kansas 28 - 16,222 34,814 6,525 18,316 22,747 53,130 75,877 (9,771) 1969 - 2019 2015 - 2019 Kansas 4 (f) 3,640 5,071 226 1,892 3,866 6,963 10,829 (1,778) 1987 - 2018 2012 - 2021 Kentucky 31 - 31,963 75,004 775 16,098 32,738 91,102 123,840 (16,945) 1907 - 2020 2013 - 2022 Kentucky 37 (f) 22,863 44,502 - 250 22,863 44,752 67,615 (12,413) 1972 - 2018 2011 - 2021 Louisiana 7 - 4,310 10,101 - 1 4,310 10,102 14,412 (1,225) 1968 - 2020 2012 - 2022 Louisiana 26 (f) 27,567 30,940 822 519 28,389 31,459 59,848 (9,326) 1981 - 2015 2012 - 2020 Maine 17 - 16,696 60,392 - - 16,696 60,392 77,088 (4,878) 1798 - 2011 2015 - 2022 Maine 4 (f) 1,059 2,229 82 163 1,141 2,392 3,533 (1,031) 1979 - 1993 2014 - 2016 Maryland 7 - 10,828 12,881 - 75 10,828 12,956 23,784 (2,344) 1963 - 2007 2017 - 2021 Maryland 5 (f) 7,377 14,463 - - 7,377 14,463 21,840 (2,612) 1950 - 2007 2012 - 2020 Massachusetts 31 - 44,283 121,669 - - 44,283 121,669 165,952 (20,628) 1850 - 2009 2014 - 2022 Massachusetts 8 (f) 20,105 25,687 - 363 20,105 26,050 46,155 (5,612) 1955 - 1988 2013 - 2021 Michigan 87 - 106,589 324,817 5,043 24,296 111,632 349,113 460,745 (52,422) 1862 - 2020 2015 - 2022 Michigan 37 (f) 24,017 40,775 96 5,167 24,113 45,942 70,055 (18,221) 1880 - 2012 2012 - 2022 Minnesota 48 - 77,176 152,297 2,136 8,629 79,312 160,926 240,238 (22,073) 1905 - 2018 2015 - 2022 Minnesota 37 (f) 34,077 58,302 5,787 27,053 39,864 85,355 125,219 (25,114) 1951 - 2021 2011 - 2020 Minnesota 1 11,744 7,639 11,328 - - 7,639 11,328 18,967 (4,036) 2015 - 2015 2016 - 2016 Mississippi 29 - 23,926 63,965 120 1,374 24,046 65,339 89,385 (11,481) 1974 - 2010 2012 - 2022 Mississippi 12 (f) 12,068 33,833 - - 12,068 33,833 45,901 (6,177) 1965 - 2009 2011 - 2020 Mississippi 6 40,662 15,385 48,917 - - 15,385 48,917 64,302 (9,029) 1989 - 2001 2018 Missouri 71 - 55,797 111,758 3,318 13,914 59,115 125,672 184,787 (21,328) 1928 - 2019 2013 - 2022 Missouri 21 (f) 27,850 34,181 1,308 4,842 29,158 39,023 68,181 (8,751) 1971 - 2022 2011 - 2022 Missouri 1 8,935 807 13,794 - 620 807 14,414 15,221 (3,424) 2008 2012 - 2012 Montana 1 - 2,753 14,468 - - 2,753 14,468 17,221 (2,340) 2009 2017 Montana 3 (f) 3,080 1,509 2,360 8,189 5,440 9,698 15,138 (475) 1920 - 2020 2014 - 2021 Nebraska 10 - 10,507 5,694 504 7,175 11,011 12,869 23,880 (2,590) 1961 - 2022 2014 - 2021 Nebraska 14 (f) 7,005 23,344 - 2,745 7,005 26,089 33,094 (2,888) 1910 - 2015 2012 - 2021 Nevada 8 - 11,909 16,545 - 1,006 11,909 17,551 29,460 (2,073) 1980 - 2021 2016 - 2021 Nevada 5 (f) 7,809 16,402 - 1,029 7,809 17,431 25,240 (3,597) 1960 - 2009 2013 - 2021 Nevada 1 5,993 2,770 5,454 25 2,259 2,795 7,713 10,508 (754) 1995 2020 New Hampshire 8 - 9,233 16,269 877 4,718 10,110 20,987 31,097 (2,510) 1960 - 2001 2017 - 2022 New Hampshire 4 (f) 1,837 7,914 - - 1,837 7,914 9,751 (1,365) 1973 - 2003 2014 - 2018 New Jersey 4 - 3,303 5,965 - - 3,303 5,965 9,268 (693) 1970 - 2015 2019 - 2022 New Jersey 7 (f) 7,004 29,971 329 2,176 7,333 32,147 39,480 (9,802) 1930 - 2009 2013 - 2018 New Mexico 6 - 8,562 19,175 81 8,486 8,643 27,661 36,304 (4,367) 1946 - 2009 2015 - 2022 New Mexico 4 (f) 4,243 6,084 - - 4,243 6,084 10,327 (1,747) 1955 - 2019 2013 - 2019 Descriptions (a) Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross amount at December 31, 2022 (b) (c) Property Location Number of Properties Encumbrances Land & Improvements Building & Improvements Land & Improvements Building & Improvements Land & Improvements Building & Improvements Total Accumulated Depreciation (d) (e) Years Constructed Years Acquired New York 25 - 49,841 157,415 1,729 3,411 51,570 160,826 212,396 (20,055) 1892 - 2016 2013 - 2022 New York 15 (f) 13,340 32,426 - 32 13,340 32,458 45,798 (4,867) 1950 - 2014 2016 - 2020 North Carolina 71 - 51,284 88,801 3,161 10,591 54,445 99,392 153,837 (16,033) 1942 - 2022 2013 - 2022 North Carolina 63 (f) 41,023 66,597 2,071 4,522 43,094 71,119 114,213 (19,456) 1950 - 2018 2012 - 2020 North Dakota 1 - 1,405 25,557 371 1,740 1,776 27,297 29,073 (2,306) 1993 2019 North Dakota 3 (f) 2,642 7,843 172 278 2,814 8,121 10,935 (2,755) 1984 - 2013 2011 - 2016 North Dakota 1 13,933 7,219 16,872 - - 7,219 16,872 24,091 (5,463) 1995 2016 Ohio Columbus, Ohio 11 - 13,975 39,693 1,272 8,168 15,247 47,861 63,108 (5,728) 1961 - 2019 2016 - 2022 Columbus, Ohio 8 (f) 5,580 10,911 - 250 5,580 11,161 16,741 (4,353) 1970 - 2014 2012 - 2020 All Other Ohio 76 - 93,808 242,103 1,630 11,981 95,438 254,084 349,522 (34,418) 1856 - 2018 2011 - 2022 All Other Ohio 62 (f) 45,156 135,854 21 1,009 45,177 136,863 182,040 (37,169) 1915 - 2020 2011 - 2021 Oklahoma 25 - 23,292 34,801 1,721 7,549 25,013 42,350 67,363 (11,595) 1965 - 2020 2014 - 2021 Oklahoma 31 (f) 31,372 46,137 459 2,052 31,831 48,189 80,020 (22,176) 1946 - 2011 2011 - 2019 Oklahoma 3 3,140 2,907 3,843 - - 2,907 3,843 6,750 (1,627) 1996 - 2006 2012 Oregon 5 - 2,827 7,447 - - 2,827 7,447 10,274 (1,314) 1924 - 2010 2016 - 2019 Oregon 5 (f) 8,147 4,648 460 159 8,607 4,807 13,414 (1,566) 1965 - 1985 2011 - 2019 Pennsylvania 68 - 66,881 208,806 290 3,720 67,171 212,526 279,697 (18,427) 1885 - 2018 2015 - 2022 Pennsylvania 33 (f) 35,711 56,440 1,439 4,487 37,150 60,927 98,077 (17,300) 1865 - 2020 2011 - 2021 Pennsylvania 1 8,602 4,398 11,502 - - 4,398 11,502 15,900 (6,238) 1960 2013 Rhode Island 7 - 6,318 15,049 - - 6,318 15,049 21,367 (1,161) 1930 - 2015 2018 - 2022 Rhode Island 6 (f) 4,854 12,253 - - 4,854 12,253 17,107 (1,052) 1968 - 1995 2019 - 2022 South Carolina 52 - 33,905 127,234 3,187 13,136 37,092 140,370 177,462 (23,488) 1912 - 2019 2014 - 2022 South Carolina 38 (f) 28,501 52,408 1,310 9,940 29,811 62,348 92,159 (15,465) 1973 - 2019 2012 - 2021 South Dakota 14 - 18,662 50,338 6,737 20,437 25,399 70,775 96,174 (9,409) 1948 - 2020 2016 - 2021 South Dakota 3 (f) 3,573 9,662 - 719 3,573 10,381 13,954 (3,721) 1992 - 2014 2011 - 2014 Tennessee 47 - 60,502 163,699 441 7,228 60,943 170,927 231,870 (22,529) 1889 - 2019 2011 - 2022 Tennessee 68 (f) 59,849 94,037 3,049 8,503 62,898 102,540 165,438 (30,596) 1971 - 2019 2011 - 2021 Texas Abilene, Texas 1 - 3,831 44,208 - - 3,831 44,208 48,039 - 2009 2022 Abilene, Texas 1 (f) 593 2,023 - - 593 2,023 2,616 (832) 1961 2012 Amarillo, Texas 4 - 4,002 11,473 - 3,164 4,002 14,637 18,639 (1,604) 1977 - 2016 2013 - 2019 Amarillo, Texas 1 (f) 269 457 - - 269 457 726 (104) 1954 2014 Amarillo, Texas 1 1,018 927 1,330 - - 927 1,330 2,257 (637) 1995 2012 Arlington, Texas 2 - 1,595 4,761 - - 1,595 4,761 6,356 (979) 1964 - 1997 2017 - 2018 Arlington, Texas 4 (f) 3,353 10,077 129 1,521 3,482 11,598 15,080 (2,546) 1945 - 2010 2012 - 2018 Austin, Texas 4 - 6,058 11,115 - - 6,058 11,115 17,173 (2,273) 1991 - 2017 2014 - 2021 Austin, Texas 1 (f) 2,212 3,600 - - 2,212 3,600 5,812 (1,207) 2006 2011 Corpus Christi, Texas 5 - 10,731 15,967 - - 10,731 15,967 26,698 (6,289) 1964 - 2017 2012 - 2021 Corpus Christi, Texas 2 (f) 2,020 1,128 743 316 2,763 1,444 4,207 (436) 1975 - 2016 2019 Descriptions (a) Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross amount at December 31, 2022 (b) (c) Property Location Number of Properties Encumbrances Land & Improvements Building & Improvements Land & Improvements Building & Improvements Land & Improvements Building & Improvements Total Accumulated Depreciation (d) (e) Years Constructed Years Acquired Cypress, Texas 2 - 2,098 4,322 - 391 2,098 4,713 6,811 (486) 2012 - 2017 2018 - 2021 Cypress, Texas 1 (f) 4,223 9,504 - - 4,223 9,504 13,727 (1,035) 2019 2019 Fort Worth, Texas 5 - 9,695 13,715 1,565 5,915 11,260 19,630 30,890 (5,740) 1989 - 2014 2012 - 2021 Fort Worth, Texas 2 (f) 5,361 13,744 - - 5,361 13,744 19,105 (2,798) 1998 - 2021 2013 - 2021 Frisco, Texas 4 - 5,683 10,790 190 924 5,873 11,714 17,587 (1,633) 2003 - 2018 2015 - 2021 Frisco, Texas 2 (f) 4,214 6,362 24 30 4,238 6,392 10,630 (2,218) 1996 - 2008 2012 - 2014 Harlingen, Texas 4 - 3,768 11,342 - - 3,768 11,342 15,110 (1,585) 1993 - 2014 2015 - 2021 Harlingen, Texas 1 (f) 487 391 819 2,293 1,306 2,684 3,990 (487) 2018 2016 Houston, Texas 22 - 25,548 29,177 695 8,769 26,243 37,946 64,189 (5,034) 1965 - 2017 2015 - 2021 Houston, Texas 10 (f) 16,673 23,655 8,204 7,146 24,877 30,801 55,678 (9,801) 1965 - 2016 2013 - 2018 Humble, Texas 2 - 3,468 1,885 1,989 11,451 5,457 13,336 18,793 (3,182) 2009 - 2016 2015 - 2016 Humble, Texas 3 (f) 1,732 3,567 - - 1,732 3,567 5,299 (1,128) 1982 - 2012 2013 - 2016 Irving, Texas 3 - 5,212 6,577 - - 5,212 6,577 11,789 (1,513) 1983 - 2005 2012 - 2019 Irving, Texas 1 (f) 1,375 4,661 - - 1,375 4,661 6,036 (1,223) 1982 2014 Katy, Texas 4 - 5,100 6,242 - 438 5,100 6,680 11,780 (933) 1984 - 2016 2016 - 2021 Katy, Texas 1 (f) 1,564 2,651 159 1,507 1,723 4,158 5,881 (764) 2015 2017 League City, Texas 2 - 7,417 12,612 - - 7,417 12,612 20,029 (2,637) 2011 - 2016 2015 - 2017 Lubbock, Texas 1 - 1,512 7,836 - 342 1,512 8,178 9,690 (1,391) 2005 2015 Lubbock, Texas 5 (f) 9,980 16,629 1,529 3,066 11,509 19,695 31,204 (5,526) 1980 - 2014 2012 - 2018 Lubbock, Texas 1 946 1,289 808 - - 1,289 808 2,097 (393) 1994 2012 McAllen, Texas 3 - 2,810 5,268 - - 2,810 5,268 8,078 (934) 1976 - 2015 2016 - 2021 McAllen, Texas 4 (f) 5,491 10,558 583 1,293 6,074 11,851 17,925 (3,521) 1955 - 2015 2011 - 2017 Mesquite, Texas 2 - 1,455 8,967 - - 1,455 8,967 10,422 (347) 1987 - 2008 2021 Mesquite, Texas 1 (f) 1,795 5,837 - - 1,795 5,837 7,632 (1,545) 1973 2013 San Antonio, Texas 13 - 15,537 19,398 745 1,320 16,282 20,718 37,000 (3,596) 1945 - 2017 2015 - 2021 San Antonio, Texas 5 (f) 10,611 11,711 531 1,680 11,142 13,391 24,533 (2,742) 1985 - 2017 2011 - 2022 Yoakum, Texas 1 - 2,325 22,099 - - 2,325 22,099 24,424 (553) 1971 2022 All Other Texas 152 - 110,530 219,485 4,729 37,720 115,259 257,205 372,464 (39,751) 1920 - 2022 2012 - 2022 All Other Texas 58 (f) 57,371 110,327 3,405 14,918 60,776 125,245 186,021 (30,725) 1950 - 2018 2011 - 2022 Utah 10 - 19,300 31,266 403 3,870 19,703 35,136 54,839 (6,925) 1972 - 2021 2014 - 2021 Utah 5 (f) 6,282 13,773 109 796 6,391 14,569 20,960 (1,160) 1961 - 2013 2018 - 2021 Descriptions (a) Initial Cost to Company Costs Capitalized Subsequent to Acquisition Gross amount at December 31, 2022 (b) (c) Property Location Number of Properties Encumbrances Land & Improvements Building & Improvements Land & Improvements Building & Improvements Land & Improvements Building & Improvements Total Accumulated Depreciation (d) (e) Years Constructed Years Acquired Vermont 5 - 1,747 2,230 4 354 1,751 2,584 4,335 (369) 1950 - 1997 2016 - 2022 Vermont 2 (f) 955 829 - - 955 829 1,784 (410) 1983 - 1998 2014 Virginia 31 - 47,225 105,632 4,906 6,846 52,131 112,478 164,609 (8,749) 1921 - 2022 2011 - 2022 Virginia 15 (f) 8,750 15,019 106 585 8,856 15,604 24,460 (5,067) 1928 - 2008 2011 - 2019 Washington 11 - 14,178 31,693 144 1,396 14,322 33,089 47,411 (6,333) 1910 - 2004 2015 - 2021 Washington 11 (f) 24,332 18,031 1,570 5,239 25,902 23,270 49,172 (5,761) 1948 - 2009 2012 - 2021 West Virginia 12 - 10,486 24,861 - 846 10,486 25,707 36,193 (4,018) 1953 - 2007 2012 - 2022 West Virginia 11 (f) 9,341 8,572 - - 9,341 8,572 17,913 (3,208) 1970 - 2009 2011 - 2020 Wisconsin 62 - 80,908 234,526 29,129 48,739 110,037 283,265 393,302 (43,119) 1911 - 2021 2015 - 2022 Wisconsin 27 (f) 18,568 71,421 4,287 4,032 22,855 75,453 98,308 (14,424) 1948 - 2022 2014 - 2022 Wisconsin 3 32,302 17,490 39,558 - - 17,490 39,558 57,048 (11,592) 1966 - 1992 2016 Wyoming 3 - 962 3,634 - 3 962 3,637 4,599 (423) 1975 - 2009 2016 - 2022 Wyoming 4 (f) 5,572 6,539 5,743 6,060 11,315 12,599 23,914 (1,629) 1980 - 2022 2012 - 2021 2,936 $ 140,976 $ 3,239,415 $ 6,942,675 $ 216,028 $ 800,779 $ 3,455,443 $ 7,743,454 $ 11,198,897 $ (1,410,829) (a) As of December 31, 2022, we had investments in 3,058 single-tenant real estate property locations including 3,034 owned properties and 24 ground lease interests; 100 of our owned properties are accounted for as financing arrangements and 22 are accounted for as direct financing receivables and are excluded from the table above. Initial costs exclude intangible lease assets totaling $62.0 million. (b) The aggregate cost for federal income tax purposes is approximately $11,633.6 million. (c) The following is a reconciliation of total real estate carrying value for the years ended December 31, 2022, 2021 and 2020: Year ended December 31, 2022 2021 2020 Balance, beginning of year $ 9,936,320 $ 8,866,666 $ 8,175,034 Additions Acquisitions 1,333,088 1,300,142 834,023 Improvements 135,781 143,665 130,051 Deductions Provision for impairment of real estate (16,050) (21,800) (21,978) Other (8,750) (12,876) (11,184) Cost of real estate sold (181,492) (312,418) (212,818) Reclasses to held for sale — (27,059) (26,462) Balance, end of year $ 11,198,897 $ 9,936,320 $ 8,866,666 (d) The following is a reconciliation of accumulated depreciation for the years ended December 31, 2022, 2021 and 2020: Year ended December 31, 2022 2021 2020 Balance, beginning of year $ (1,134,007) $ (911,656) $ (711,176) Additions Depreciation expense (304,588) (262,566) (238,853) Deductions Accumulated depreciation associated with real estate sold 19,016 25,434 23,031 Other 8,750 12,876 11,184 Reclasses to held for sale — 1,905 4,158 Balance, end of year $ (1,410,829) $ (1,134,007) $ (911,656) (e) The Company's real estate assets are depreciated using the straight-line method over the estimated useful lives of the properties, which generally ranges from 30 to 40 years for buildings and improvements and is 15 years for land improvements. (f) Property is collateral for non-recourse debt obligations totaling $2.1 billion issued under the Company’s STORE Master Funding debt program. See report of independent registered public accounting firm.

Schedule IV - Mortgage Loans on

Schedule IV - Mortgage Loans on Real Estate	12 Months Ended
Schedule IV - Mortgage Loans on Real Estate	Dec. 31, 2022
Schedule IV - Mortgage Loans on Real Estate
Schedule IV - Mortgage Loans on Real Estate	STORE Capital Corporation Schedule IV - Mortgage Loans on Real Estate As of December 31, 2022 (Dollars in thousands) Final Periodic Final Outstanding Carrying Interest Maturity Payment Payment Prior face amount of amount of Description Rate Date Terms Terms Liens mortgages mortgages (c) First mortgage loans: Two movie theater properties located in North Carolina (a) 8.35 % (b) Interest only Balloon of $12.2 million None $ 12,161 $ 9,745 Two restaurant properties located in Indiana 10.00 % 6/30/2023 Interest only Balloon of $0.2 million None 219 219 Three elementary school properties in California and Virginia 8.00 % 12/31/2023 Interest only Balloon of $70.8 million None 70,775 71,198 Three metal tank manufacturing properties located in Illinois, Tennessee, and Texas 7.90 % 12/31/2026 Principal & Interest Balloon of $20.0 million None 21,000 20,550 Two restaurant properties located in Louisiana 8.61 % 7/1/2032 Principal & Interest Balloon of $1.9 million None 2,084 2,087 Five restaurant properties located in Mississippi 8.68 % 7/1/2032 Principal & Interest Balloon of $5.1 million None 5,514 5,519 One restaurant property located in Montana 9.29 % 11/1/2036 Principal & Interest Balloon of $2.1 million None 2,369 2,369 One textile manufacturer property in South Carolina 8.25 % 10/1/2042 Principal & Interest Balloon of $13.1 million None 14,500 14,345 Ten car wash properties located in Nebraska, Pennsylvania, and Texas 8.25 % 6/30/2051 Principal & Interest Fully amortizing None 24,204 24,026 Five restaurant properties located in Tennessee 8.25 % 8/31/2053 Principal & Interest Fully amortizing None 3,549 3,536 One hunting and fishing property located in California 7.90 % 5/31/2054 Principal & Interest Balloon of $6.0 million None 16,883 16,831 Three floral/nursery merchant wholesaler properties located in California 8.35 % 11/30/2054 Principal & Interest Fully amortizing None 25,112 25,012 Three mortgage loans secured by one recreation property located in Colorado 9.35 % 2/28/2055 Principal & Interest Fully amortizing None 30,396 30,682 13 restaurant properties in Florida, Kansas and Missouri 7.60 % 8/31/2055 Principal & Interest Fully amortizing None 9,862 9,797 Three restaurant properties located in Ohio 8.45 % 12/31/2055 Principal & Interest Fully amortizing None 2,991 2,986 One athletic club in Chicago, IL (a) 7.60 % 1/31/2056 Principal & Interest Fully amortizing None 16,549 16,375 Leasehold interest in an amusement park property located in Ontario, Canada 9.89 % 8/1/2056 Principal & Interest Fully amortizing None 22,097 21,979 One recreation property located in Utah 9.25 % 12/11/2060 Principal & Interest Fully amortizing None 6,269 6,241 One family entertainment property located in Texas 8.25 % 6/30/2062 Principal & Interest Fully amortizing None 4,531 4,509 Five family entertainment properties located in Texas 8.11 % 6/30/2062 Principal & Interest Fully amortizing None 26,720 26,627 Three food processing properties in Idaho, Tennessee, and Wisconsin 8.00 % 12/31/2062 Principal & Interest Fully amortizing None 27,890 27,787 $ 345,675 $ 342,420 The following shows changes in the carrying amounts of mortgage loans receivable during the years ended December 31, 2022, 2021 and 2020 (in thousands): Year ended December 31, 2022 2021 2020 Balance, beginning of year $ 342,317 $ 301,355 $ 202,557 Additions: New mortgage loans (d) 68,912 75,666 132,542 Other: Capitalized loan origination costs 85 98 155 Deductions: Collections of principal (e) (69,279) (32,046) (32,151) Other: Provisions for loan losses 503 (2,704) (1,670) Other: Amortization of loan origination costs (118) (52) (78) Balance, end of year $ 342,420 $ 342,317 $ 301,355 (a) Loan was on nonaccrual status as of December 31, 2022. (b) Loan matured prior to December 31, 2022 and the Company has been in negotiations with the borrower regarding a resolution. (c) The aggregate cost for federal income tax purposes is $346.5 million. (d) For the years ended December 31, 2022 and 2021, new mortgage loans includes $15.2 million and $19.8 million, respectively, of mortgage loans previously classified as deferred financing receivables. (e) For the years ended December 31, 2022, 2021 and 2020, collections of principal include non-cash principal collections aggregating $8.9 million, $30.8 million and $23.4 million, respectively, related to loan receivable transactions in which the Company acquired the underlying mortgaged property. See report of independent registered public accounting firm.

Summary of Significant Accoun_2

Summary of Significant Accounting Principles (Policies)	12 Months Ended
Summary of Significant Accounting Principles (Policies)	Dec. 31, 2022
Summary of Significant Accounting Principles
Basis of Accounting and Principles of Consolidation	Basis of Accounting and Principles of Consolidation The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These consolidated statements include the accounts of STORE Capital and its subsidiaries which are wholly owned and controlled by the Company through its voting interest. One of the Company’s wholly owned subsidiaries, STORE Capital Advisors, LLC, provides all of the general and administrative services for the day-to-day operations of the consolidated group, including property acquisition and lease origination, real estate portfolio management and marketing, accounting and treasury services. The remaining subsidiaries were formed to acquire and hold real estate investments or to facilitate non-recourse secured borrowing activities. Generally, the initial operations of the real estate subsidiaries are funded by an interest-bearing intercompany loan from STORE Capital, and such intercompany loan is repaid when the subsidiary issues long-term debt secured by its properties. All intercompany account balances and transactions have been eliminated in consolidation. Certain of the Company’s wholly owned consolidated subsidiaries were formed as special purpose entities. Each special purpose entity is a separate legal entity and is the sole owner of its assets and liabilities. The assets of the special purpose entities are not available to pay or otherwise satisfy obligations to the creditors of any owner or affiliate of the special purpose entity. At December 31, 2022 and 2021, these special purpose entities held assets totaling $9.5 billion and $8.5 billion, respectively, and had third-party liabilities totaling $2.4 billion and $2.6 billion, respectively. These assets and liabilities are included in the accompanying consolidated balance sheets.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Although management believes its estimates are reasonable, actual results could differ from those estimates.
Segment Reporting	Segment Reporting The Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting
Investment Portfolio	Investment Portfolio STORE Capital invests in real estate assets through three primary transaction types as summarized below. At the beginning of 2019, the Company adopted Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) ● Real Estate Investments – investments are generally made through sale-leaseback transactions in which the Company acquires the real estate from the owner-operators and then leases the real estate back to them through long-term leases which are generally classified as operating leases; the operators become the Company’s long-term tenants (its customers). Certain of the lease contracts that are associated with a sale-leaseback transaction may contain terms, such as a tenant purchase option, which results in the transaction being accounted for as a financing arrangement due to the adoption of ASC Topic 842 rather than as an investment in real estate subject to an operating lease. ● Mortgage Loans Receivable – investments are made by issuing mortgage loans to the owner-operators of the real estate that serve as the collateral for the loans and the operators become long-term borrowers and customers of the Company. On occasion, the Company may also make other types of loans to its customers, such as equipment loans. ● Hybrid Real Estate Investments – investments are made through modified sale-leaseback transactions, where the Company acquires land from the owner-operators, leases the land back through long-term leases and simultaneously issues mortgage loans to the operators secured by the buildings and improvements on the land. Prior to 2019, these hybrid real estate investment transactions were generally accounted for as direct financing leases. Subsequent to the adoption of ASC Topic 842, new or modified hybrid real estate investment transactions are generally accounted for as operating leases of the land and mortgage loans on the buildings and improvements.
Impact of the COVID-19 Pandemic	Impact of the COVID-19 Pandemic During the novel coronavirus (“COVID-19”) pandemic beginning in early 2020, the Company provided to certain tenants rent deferral arrangements in the form of both short-term notes and lease modifications. The FASB provided accounting relief under which concessions provided to tenants in direct response to the COVID-19 pandemic are not required to be evaluated or accounted for as lease modifications in accordance with ASC Topic 842. The Company elected to apply this accounting relief to the rent deferral arrangements it has entered into with its tenants, which primarily affected the timing (but not the amount) of lease and loan payments due to the Company under its contracts. For the years ended December 31, 2022, 2021 and 2020, the Company recognized $1.5 million, $8.3 million and $57.1 million of net revenue associated with these deferral arrangements with a corresponding increase in receivables that are included in other assets, net on the consolidated balance sheet. During the years ended December 31, 2022, 2021 and 2020, the Company collected $14.5 million, $33.4 million and $9.9 million of the receivables related to these deferral arrangements.
Accounting for Real Estate Investments	Accounting for Real Estate Investments Classification and Cost STORE Capital records the acquisition of real estate properties at cost, including acquisition and closing costs. The Company allocates the cost of real estate properties to the tangible and intangible assets and liabilities acquired based on their estimated relative fair values. Intangible assets and liabilities acquired may include the value of existing in-place leases, above-market or below-market lease value of in-place leases and ground lease-related intangibles, as applicable. Management uses multiple sources to estimate fair value, including independent appraisals and information obtained about each property as a result of its pre-acquisition due diligence and its marketing and leasing activities. Certain of the Company’s lease contracts allow its tenants the option, at their election, to purchase the leased property from the Company at a specified time or times (generally at the greater of the then-fair market value or the Company’s cost, as defined in the lease contracts). Subsequent to the adoption of ASC Topic 842, for real estate assets acquired through a sale-leaseback transaction and subject to a lease contract which contains a purchase option, the Company accounts for such an acquisition as a financing arrangement and records the investment in loans and financing receivables on the consolidated balance sheet; should the purchase option later expire or be removed from the lease contract, the Company would derecognize the asset accounted for as a financing arrangement and recognize the transferred leased asset in real estate investments. In-place lease intangibles are valued based on management’s estimates of lost rent and carrying costs 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. In estimating lost rent and carrying costs, management considers market rents, real estate taxes, insurance, costs to execute similar leases (including leasing commissions) and other related costs. The value assigned to in-place leases is amortized on a straight-line basis as a component of depreciation and amortization expense typically over the remaining term of the related leases. The fair value of any above-market or below-market lease is estimated based on the present value of the difference between the contractual amounts to be paid pursuant to the in-place lease and management’s estimate of current market lease rates for the property, measured over a period equal to the remaining term of the lease. Capitalized above-market lease intangibles are amortized over the remaining term of the respective leases as a decrease to rental revenue. Below-market lease intangibles are amortized as an increase in rental revenue over the remaining term of the respective leases plus the fixed-rate renewal periods on those leases, if any. Should a lease terminate early, the unamortized portion of any related lease intangible is immediately recognized in operations. The Company’s real estate portfolio is depreciated using the straight-line method over the estimated remaining useful life of the properties, which generally ranges from 30
Revenue Recognition	Revenue Recognition STORE Capital leases real estate to its tenants under long- term net leases that are predominantly classified as operating leases. The Company’s leases generally provide for rent escalations throughout the lease terms. For leases that provide for specific contractual escalations, rental revenue is recognized on a straight-line basis so as to produce a constant periodic rent over the term of the lease. Accordingly, straight-line operating lease receivables, calculated as the aggregate difference between the rental revenue recognized on a straight-line basis and scheduled rents, represent unbilled rent receivables that the Company will receive only if the tenants make all rent payments required through the expiration of the leases; these receivables are included in other assets, net on the consolidated balance sheets. The Company reviews its straight-line operating lease receivables for collectibility on a contract by contract basis and any amounts not considered substantially collectible are written off against rental revenues. As of December 31, 2022 and 2021, the Company had In addition to base rental revenue, certain leases also have contingent rentals that are based on a percentage of the tenant’s gross sales; the Company recognizes contingent rental revenue when the threshold upon which the contingent lease payment is based is actually reached. Approximately 3.2% of the Company’s investment portfolio is subject to leases that provide for contingent rent based on a percentage of the tenant’s gross sales; historically, contingent rent recognized has been less than 2.0% of rental revenues. The Company reviews its operating lease receivables for collectibility on a regular basis, taking into consideration changes in factors such as the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area where the property is located. In the event that the collectibility of lease payments with respect to any tenant is not probable, a direct write-off of the receivable is made and any future rental revenue is recognized only when the tenant makes a rental payment or when collectibility is again deemed probable. Direct costs incremental to successful lease origination, offset by any lease origination fees received, are deferred and amortized over the related lease term as an adjustment to rental revenue. The Company periodically commits to fund the construction of new properties for its customers; rental revenue collected during the construction period is deferred and amortized over the remaining lease term when the construction project is complete. Substantially all of the Company’s leases are triple net, which means that the lessees are directly responsible for the payment of all property operating expenses, including property taxes, maintenance and insurance. For a few lease contracts, the Company collects property taxes from its customers and remits those taxes to governmental authorities. Subsequent to the adoption of ASC Topic 842, these property tax payments are presented on a gross basis as part of both rental revenues and property costs in the consolidated statements of income.
Impairment	Impairment STORE Capital reviews its real estate investments and related lease intangibles periodically for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through operations. Such events or changes in circumstances may include an expectation to sell certain assets in accordance with the Company’s long-term strategic plans. Management considers factors such as expected future undiscounted cash flows, capitalization and discount rates, terminal value, tenant improvements, market trends (such as the effects of leasing demand and competition) and other factors including bona fide purchase offers received from third parties in making this assessment. These factors are classified as Level 3 inputs within the fair value hierarchy, discussed in Fair Value Measurement During the year ended December 31, 2022, the Company recognized an aggregate provision for impairment of real estate of $16.0 million. For the assets impaired in 2022, the estimated fair value of the impaired real estate assets at the time of impairment aggregated $65.3 million. The Company recognized aggregate provisions for the impairment of real estate of $21.8 million and $22.0 million during the years ended December 31, 2021 and 2020, respectively.
Accounting for Loans and Financing Receivables	Accounting for Loans and Financing Receivables Loans Receivable – Classification, Cost and Revenue Recognition STORE Capital holds its loans receivable, which are primarily mortgage loans secured by real estate, for long-term investment. Loans receivable are carried at amortized cost, including related unamortized discounts or premiums, if any. The Company recognizes interest income on loans receivable using the effective-interest method applied on a loan-by-loan basis. Direct costs associated with originating loans are offset against any related fees received and the balance, along with any premium or discount, is deferred and amortized as an adjustment to interest income over the term of the related loan receivable using the effective interest method. A loan receivable is placed on nonaccrual status when the loan has become more than 60 days past due, or earlier if management determines that full recovery of the contractually specified payments of principal and interest is doubtful. While on nonaccrual status, interest income is recognized only when received. As of December 31, 2022 and 2021, the Company had loans receivable with an aggregate outstanding principal balance of $31.8 million and $28.8 million, respectively, on nonaccrual status. Direct Financing Receivables – Classification, Cost and Revenue Recognition Direct financing receivables include hybrid real estate investment transactions completed prior to 2019. The Company recorded the direct financing receivables at their net investment, determined as the aggregate minimum lease payments and the estimated residual value of the leased property less unearned income. The unearned income is recognized over the life of the related contracts so as to produce a constant rate of return on the net investment in the asset. Subsequent to the adoption of ASC Topic 842, existing direct financing receivables will continue to be accounted for in the same manner, unless the underlying contracts are modified. Impairment and Provision for Credit Losses The Company accounts for provisions of credit losses in accordance with ASU 2016-13, Financial Instruments — Credit Losses (“Topic 326”): Measurement of Credit Losses on Financial Instruments (“ASC Topic 326”)
Direct Financing Receivables - Classification, Cost and Revenue Recognition	Direct Financing Receivables – Classification, Cost and Revenue Recognition Direct financing receivables include hybrid real estate investment transactions completed prior to 2019. The Company recorded the direct financing receivables at their net investment, determined as the aggregate minimum lease payments and the estimated residual value of the leased property less unearned income. The unearned income is recognized over the life of the related contracts so as to produce a constant rate of return on the net investment in the asset. Subsequent to the adoption of ASC Topic 842, existing direct financing receivables will continue to be accounted for in the same manner, unless the underlying contracts are modified.
Accounting for Operating Ground Lease Assets	Accounting for Operating Ground Lease Assets As part of certain real estate investment transactions, the Company may enter into long-term operating ground leases as a lessee. The Company is required to recognize an operating ground lease (or right-of-use) asset and related operating lease liability for each of these operating ground leases. Operating ground lease assets and operating 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. Many of these operating lease contracts include options for the Company to extend the lease; the option periods are included in the minimum lease term only if it is reasonably likely the Company will exercise the option(s). Rental expense for the operating ground lease contracts is recognized in property costs on a straight-line basis over the lease term. Some of the contracts have contingent rent escalators indexed to future increases in the CPI and a few contracts have contingent rentals that are based on a percentage of the gross sales of the property; these payments are recognized in expense as incurred. The payment obligations under these contracts are typically the responsibility of the tenants operating on the properties, in accordance with the Company’s leases with the respective tenants. As a result, the Company also recognizes sublease rental revenue on a straight-line basis over the term of the Company’s sublease with the tenant; the sublease income is included in rental revenues.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash and highly liquid investment securities with maturities at acquisition of three months or less. The Company invests cash primarily in money-market funds of a major financial institution, consisting predominantly of U.S. Government obligations.
Restricted Cash	Restricted Cash Restricted cash may include reserve account deposits held by lenders, including deposits required to be used for future investment in real estate assets, escrow deposits and cash proceeds from the sale of assets held by a qualified intermediary to facilitate tax-deferred exchange transactions under Section 1031 of the Internal Revenue Code. The Company had $4.7 million and $5.8 million of restricted cash at December 31, 2022 and 2021, respectively, which are included in other assets, net, on the consolidated balance sheets.
Deferred Costs	Deferred Costs Financing costs related to the issuance of the Company’s long-term debt are deferred and amortized as an increase to interest expense over the term of the related debt instrument using the effective-interest method and are reported as a reduction of the related debt balance on the consolidated balance sheets. Deferred financing costs related to the establishment of the Company's credit facility are deferred and amortized to interest expense over the term of the credit facility and are included in other assets, net, on the consolidated balance sheets.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company may enter into derivative contracts as part of its overall financing strategy to manage the Company’s exposure to changes in interest rates associated with current and/or future debt issuances. The Company does not use derivatives for trading or speculative purposes. The use of derivative financial instruments carries certain risks, including the risk that the counterparties to these contractual arrangements are not able to perform under the agreements. To mitigate this risk, the Company enters into derivative financial instruments only with counterparties with high credit ratings and with major financial institutions with which the Company may also have other financial relationships. The Company does not anticipate that any of the counterparties will fail to meet their obligations. The Company records its derivatives on the balance sheet at fair value. All derivatives subject to a master netting arrangement in accordance with the associated master International Swap and Derivatives Association agreement have been presented on a net basis by counterparty portfolio for purposes of balance sheet presentation and related disclosures. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the earnings effect of the hedged forecasted transactions in a cash flow hedge. The changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive income (loss). Amounts reported in accumulated other comprehensive income (loss) related to cash flow hedges are reclassified to operations as an adjustment to interest expense as interest payments are made on the hedged debt transaction. As of December 31, 2022, the Company had seven interest rate swap agreements in place. One of the interest rate swap agreements has a notional amount of $200.0 million and was designated as a cash flow hedge of the Company's $200.0 million floating-rate bank term loan due in April 2029. The remaining six interest rate swap agreements have an aggregate notional amount of $400.0 million and were designated as cash flow hedges of the Company's $400.0 million floating-rate bank term loan due in April 2027 (Note 4). As of December 31, 2021, the Company had no derivative instruments in place.
Fair Value Measurement	Fair Value Measurement The Company estimates the fair value of financial and non-financial assets and liabilities based on the framework established in fair value accounting guidance. Fair value is defined as 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 (an exit price). The hierarchy described below prioritizes inputs to the valuation techniques used in measuring the fair value of assets and liabilities. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring the most observable inputs to be used when available. The hierarchy is broken down into three levels based on the reliability of inputs as follows: ● Level 1—Quoted market prices in active markets for identical assets and liabilities that the Company has the ability to access. ● Level 2—Significant inputs that are observable, either directly or indirectly. These types of inputs would include quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets in inactive markets and market-corroborated inputs. ● Level 3—Inputs that are unobservable and significant to the overall fair value measurement of the assets or liabilities. These types of inputs include the Company’s own assumptions.
Share-based Compensation	Share-based Compensation Directors and employees of the Company have historically been granted long-term incentive awards, including restricted stock awards (“RSAs”) and restricted stock unit awards (“RSUs’), which provided such directors and employees with equity interests as an incentive to remain in the Company’s service and to align their interests with those of the Company’s stockholders. The Company estimates the fair value of RSAs based on the closing price per share of the common stock on the date of grant and recognizes that amount in general and administrative expense ratably over the vesting period at the greater of the amount amortized on a straight-line basis or the amount vested. The Company’s RSUs granted 2019 through 2022 contain both a market condition and a performance condition as well as a service condition. The Company values the RSUs with a market condition using a Monte Carlo simulation model and values the RSUs with a performance condition based on the fair value of the awards expected to be earned and recognizes those amounts in general and administrative expense on a tranche-by-tranche basis ratably over the vesting periods.
Income Taxes	Income Taxes As a REIT, the Company generally will not be subject to federal income tax. It is still subject, however, to state and local income taxes and to federal income and excise tax on its undistributed income. STORE Investment Corporation is the Company’s wholly owned taxable REIT subsidiary (“TRS”) created to engage in non-qualifying REIT activities. The TRS is subject to federal, state and local income taxes.
Net Income Per Common Share	Net Income Per Common Share Net income per common share has been computed pursuant to the guidance in the FASB ASC Topic 260, Earnings Per Share. Year Ended December 31, 2022 2021 2020 Numerator: Net income $ 327,901 $ 268,348 $ 212,614 Less: Earnings attributable to unvested restricted shares (558) (659) (776) Net income used in basic and diluted income per share $ 327,343 $ 267,689 $ 211,838 Denominator: Weighted average common shares outstanding 280,559,061 270,693,243 253,055,331 Less: Weighted average number of shares of unvested restricted stock (453,584) (587,974) (520,751) Weighted average shares outstanding used in basic income per share 280,105,477 270,105,269 252,534,580 Effects of dilutive securities: Add: Treasury stock method impact of potentially dilutive securities (a) — — 116,460 Weighted average shares outstanding used in diluted income per share 280,105,477 270,105,269 252,651,040 (a) For the years ended December 31, 2022, 2021 and 2020, excludes 121,112 shares, 225,424 shares and 127,136 shares, respectively, related to unvested restricted shares as the effect would have been antidilutive.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB or the SEC. The Company adopts the new pronouncements as of the specified effective date. When permitted, the Company may elect to early adopt the new pronouncements. Unless otherwise discussed, these new accounting pronouncements include technical corrections to existing guidance or introduce new guidance related to specialized industries or entities and, therefore, will have minimal, if any, impact on the Company’s financial position, results of operations or cash flows upon adoption. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848

Summary of Significant Accoun_3

Summary of Significant Accounting Principles (Tables)	12 Months Ended
Summary of Significant Accounting Principles (Tables)	Dec. 31, 2022
Summary of Significant Accounting Principles
Reconciliation of the numerator and denominator used in the computation of basic and diluted income per common share	Year Ended December 31, 2022 2021 2020 Numerator: Net income $ 327,901 $ 268,348 $ 212,614 Less: Earnings attributable to unvested restricted shares (558) (659) (776) Net income used in basic and diluted income per share $ 327,343 $ 267,689 $ 211,838 Denominator: Weighted average common shares outstanding 280,559,061 270,693,243 253,055,331 Less: Weighted average number of shares of unvested restricted stock (453,584) (587,974) (520,751) Weighted average shares outstanding used in basic income per share 280,105,477 270,105,269 252,534,580 Effects of dilutive securities: Add: Treasury stock method impact of potentially dilutive securities (a) — — 116,460 Weighted average shares outstanding used in diluted income per share 280,105,477 270,105,269 252,651,040 (a) For the years ended December 31, 2022, 2021 and 2020, excludes 121,112 shares, 225,424 shares and 127,136 shares, respectively, related to unvested restricted shares as the effect would have been antidilutive.

Investments (Tables)

Investments (Tables)	12 Months Ended
Investments (Tables)	Dec. 31, 2022
Investments.
Schedule of gross real estate and loan activity	Number of Dollar Investment Amount of Locations Investments Gross investments, December 31, 2019 2,504 8,854,921 Acquisition of and additions to real estate (a)(b) 203 959,842 Investment in loans and direct financing receivables (c) 11 156,721 Sales of real estate (72) (222,556) Principal collections on loans and direct financing receivables (d) (12) (80,521) Net change in operating ground lease assets (e) 10,429 Provisions for impairment (23,003) Adoption of expected credit loss standard (ASC Topic 326) (2,465) Other (13,602) Gross investments, December 31, 2020 2,634 9,639,766 Acquisition of and additions to real estate (a)(d)(f) 307 1,427,278 Investment in loans and direct financing receivables 29 125,049 Sales of real estate (103) (339,658) Principal collections on loans and direct financing receivables (d) (1) (61,942) Net change in operating ground lease assets (e) (1,365) Provisions for impairment (24,979) Other (15,212) Gross investments, December 31, 2021 2,866 10,748,937 Acquisition of and additions to real estate (a)(d)(g)(h) 256 1,475,499 Investment in loans and direct financing receivables 28 158,676 Sales of real estate (60) (197,530) Principal collections on loans and direct financing receivables (d) (6) (76,868) Net change in operating ground lease assets (e) (1,446) Provisions for impairment (16,428) Other (10,997) Gross investments, December 31, 2022 12,079,843 Less accumulated depreciation and amortization (1,438,107) Net investments, December 31, 2022 3,084 $ 10,641,736 (a) Includes $0.8 million during 2020, $0.8 million during 2021 and $2.3 million during 2022 of interest capitalized to properties under construction. (b) Excludes $16.9 million of tenant improvement advances disbursed in 2020 which were accrued as of December 31, 2019. (c) Includes $3.2 million related to mortgage loans made to the purchasers of a real estate properties sold during 2020. (d) For the years ended December 31, 2020, 2021, and 2022 includes $30.6 million, $42.8 million, and $8.9 million, respectively of non-cash principal collection transactions in which the Company acquired the underlying collateral property (buildings and improvements) and leased them back to a customer. (e) Includes new operating ground lease assets recognized net of amortization during the year ended December 30, 2020. During the years ended December 31, 2021 and 2022, represents amortization. (f) Excludes $21.2 million of tenant improvement advances disbursed in 2021 which were accrued as of December 31, 2020. (g) Excludes $22.6 million of tenant improvement advances disbursed in 2022 which were accrued as of December 31, 2021. (h) Incudes $10.6 million of tenant funded improvements during 2022.
Schedule of revenue recognized from investment portfolio	The following table summarizes the revenues the Company recognized from its investment portfolio (in thousands): Year Ended December 31, 2022 2021 2020 Rental revenues: Operating leases (a)(c) $ 845,880 $ 728,477 $ 644,733 Sublease income - operating ground leases (b) 2,812 2,809 2,096 Amortization of lease related intangibles and costs (2,272) (2,225) (2,331) Total rental revenues $ 846,420 $ 729,061 $ 644,498 Interest income on loans and financing receivables: Mortgage and other loans receivable (c) $ 26,667 $ 24,959 $ 18,097 Sale-leaseback transactions accounted for as financing arrangements 24,140 17,883 15,376 Direct financing receivables 5,969 7,979 11,815 Total interest income on loans and financing receivables $ 56,776 $ 50,821 $ 45,288 (a) For the years ended December 31, 2022, 2021 and 2020, includes $3.1 million, $2.6 million and $2.5 million, respectively, of property tax tenant reimbursement revenue and includes variable lease revenue of $1.0 million, $11.2 million and $4.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. (b) Represents total revenue recognized for the sublease of properties subject to operating ground leases to the related tenants; includes both payments made by the tenants to the ground lessors and straight-line revenue recognized for scheduled increases in the sublease rental payments. (c) For the years ended December 31, 2022, 2021 and 2020, includes $1.5 million, $8.3 million and $57.1 million, respectively, of revenue that has been recognized related to rent and financing relief arrangements granted as a result of the COVID-19 pandemic with a corresponding increase in receivables which are included in other assets, net on the consolidated balance sheet.
Schedule of future minimum rentals to be received under operating leases	Scheduled future minimum rentals to be received under the remaining noncancelable term of the operating leases in place as of December 31, 2022 are as follows (in thousands): 2023 $ 908,961 2024 902,039 2025 898,423 2026 892,006 2027 880,092 Thereafter 7,402,655 Total future minimum rentals (a) $ 11,884,176 (a) Excludes future minimum rentals to be received under lease contracts associated with sale-leaseback transactions accounted for as financing arrangements. See Loans and Financing Receivables section below.
Schedule detailing intangible lease assets and related accumulated amortization	The following details intangible lease assets and related accumulated amortization at December 31 (in thousands): 2022 2021 In-place leases $ 42,519 $ 35,522 Ground lease-related intangibles 19,449 19,449 Total intangible lease assets 61,968 54,971 Accumulated amortization (27,278) (25,285) Net intangible lease assets $ 34,690 $ 29,686
Summary of future minimum lease payments	The future minimum lease payments to be paid under the operating ground leases as of December 31, 2022 were as follows (in thousands): Ground Ground Leases Leases Paid by Paid by STORE Capital's STORE Capital Tenants (a) Total 2023 $ 4,149 $ 2,629 $ 6,778 2024 55 2,711 2,766 2025 57 2,395 2,452 2026 57 2,233 2,290 2027 57 2,227 2,284 Thereafter 3,014 42,282 45,296 Total lease payments 7,389 54,477 61,866 Less imputed interest (2,663) (26,711) (29,374) Total operating lease liabilities - ground leases $ 4,726 $ 27,766 $ 32,492 (a) STORE Capital’s tenants, who are generally sub-tenants under the ground leases, are responsible for paying the rent under these ground leases. In the event the tenant fails to make the required ground lease payments, the Company would be primarily responsible for the payment, assuming the Company does not re-tenant the property or sell the leasehold interest. Of the total $54.5 million commitment, $19.0 million is due for periods beyond the current term of the Company’s leases with the tenants. Amounts exclude contingent rent due under three leases where the ground lease payment, or a portion thereof, is based on the level of the tenants’ sales.
Schedule summarizing loans and direct financing receivables	The Company’s loans and financing receivables are summarized below (dollars in thousands): Interest Maturity December 31, Type Rate (a) Date 2022 2021 Four mortgage loans receivable 8.03 % 2023 - 2026 $ 104,069 $ 114,911 Three mortgage loans receivable 8.81 % 2032 - 2036 9,967 14,444 Sixteen mortgage loans receivable (b) 8.45 % 2042 - 2062 231,639 216,547 Total mortgage loans receivable 345,675 345,902 Equipment and other loans receivable 7.32 % 2023 - 2036 15,842 25,409 Total principal amount outstanding—loans receivable 361,517 371,311 Unamortized loan origination costs 1,011 1,046 Sale-leaseback transactions accounted for as financing arrangements (c) 7.52 % 2034 - 2043 369,604 255,483 Direct financing receivables 60,899 78,637 Allowance for credit and loan losses (d) (5,925) (9,208) Total loans and financing receivables $ 787,106 $ 697,269 (a) Represents the weighted average interest rate as of the balance sheet date. (b) Four of these mortgage loans allow for prepayment in whole, but not in part, with penalties ranging from 20% to 70% depending on the timing of the prepayment. (c) In accordance with ASC Topic 842, represents sale-leaseback transactions accounted for as financing arrangements rather than as investments in real estate subject to operating leases. Interest rate shown is the weighted average initial rental or capitalization rate on the leases; the leases mature between 2034 and 2043 and the purchase options expire between 2024 and 2042. (d) Balance includes $2.5 million of loan loss reserves recognized prior to December 31, 2019, $2.5 million credit loss reserves recognized upon the adoption of ASC Topic 326 on January 1, 2020, and an aggregate $4.6 million of credit losses recognized since the adoption of ASC Topic 326 net of $3.7 million of loans that were written-off against previously established reserves.
Schedule of maturities of loans receivable	Scheduled Principal Balloon Total Payments Payments Payments 2023 $ 2,452 $ 92,832 $ 95,284 2024 2,224 — 2,224 2025 2,028 — 2,028 2026 1,999 20,371 22,370 2027 1,716 548 2,264 Thereafter 207,495 29,852 237,347 Total principal payments $ 217,914 $ 143,603 $ 361,517
Schedule of sale-leaseback transactions	2023 $ 28,486 2024 28,622 2025 28,762 2026 28,855 2027 28,956 Thereafter 343,194 Total future scheduled payments $ 486,875
Schedule of the components of the investments accounted for as direct financing receivables	As of December 31, 2022 and 2021, the Company had $60.9 million and $78.6 million, respectively, of investments accounted for as direct financing leases under previous accounting guidance; the components of these investments were as follows (in thousands): 2022 2021 Minimum lease payments receivable $ 119,839 $ 159,371 Estimated residual value of leased assets 6,889 8,938 Unearned income (65,829) (89,672) Net investment $ 60,899 $ 78,637

Debt (Tables)

Debt (Tables)	12 Months Ended
Debt (Tables)	Dec. 31, 2022
Schedule of maturities of long-term debt	As of December 31, 2022, the scheduled maturities, including balloon payments, on the Company’s aggregate debt obligations are as follows (in thousands): Scheduled Principal Balloon Payments Payments Total 2023 $ 22,628 $ 117,285 $ 139,913 2024 21,908 293,798 315,706 2025 19,777 256,612 276,389 2026 17,654 532,142 549,796 2027 9,221 860,472 869,693 Thereafter 26,882 2,495,850 2,522,732 $ 118,070 $ 4,556,159 $ 4,674,229
Senior Unsecured Notes And Term Loans Payable
Schedule of debt	The Company’s senior unsecured notes and term loans payable are summarized below (dollars in thousands): Maturity Interest December 31, December 31, Date Rate 2022 2021 Notes Payable: Series A issued November 2015 $ — $ 75,000 Series B issued November 2015 Nov. 2024 5.24 % 100,000 100,000 Series C issued April 2016 Apr. 2026 4.73 % 200,000 200,000 Public Notes issued March 2018 Mar. 2028 4.50 % 350,000 350,000 Public Notes issued February 2019 Mar. 2029 4.625 % 350,000 350,000 Public Notes issued November 2020 Nov. 2030 2.75 % 350,000 350,000 Public Notes issued November 2021 Dec. 2031 2.70 % 375,000 375,000 Total notes payable 1,725,000 1,800,000 Term Loans: Term Loan issued December 2022 Mar. 2023 (a) 5.35 % (b) 90,000 — Term Loan issued April 2022 Apr. 2027 3.58 % (c) 400,000 — Term Loan issued April 2022 Apr. 2029 3.88 % (d) 200,000 — Total term loans 690,000 — Unamortized discount (4,113) (4,740) Unamortized deferred financing costs (13,481) (12,447) Total unsecured notes and term loans payable, net $ 2,397,406 $ 1,782,813 (a) Loan matures at the earlier of March 31, 2023 or the consummation of the Merger. (b) Loan is a floating-rate loan which resets daily at Daily Simple SOFR + an adjustment of 0.10% + the applicable credit spread which was 0.95% at December 31, 2022. (c) Loan is a floating-rate loan which resets daily at Daily Simple SOFR + an adjustment of 0.10% + the applicable credit spread which was 0.95% at December 31, 2022. The Company has entered into six interest rate swap agreements that effectively convert the floating rate to the fixed rate noted as of December 31, 2022. (d) Loan is a floating-rate loan which resets daily at Daily Simple SOFR + an adjustment of 0.10% + the applicable credit spread which was 1.25% at December 31, 2022. The Company has entered into one interest rate swap agreement that effectively converts the floating rate to the fixed rate noted as of December 31, 2022.
Non-recourse debt obligations
Schedule of debt	The Company’s non-recourse debt obligations of consolidated special purpose entity subsidiaries are summarized below (dollars in thousands): Outstanding Balance Maturity Interest December 31, Date Rate 2022 2021 Non-recourse net-lease mortgage notes: $140,000 Series 2014-1, Class A-2 (a) 5.00 % — 134,692 $150,000 Series 2018-1, Class A-1 Oct. 2024 (b) 3.96 % 140,552 142,051 $50,000 Series 2018-1, Class A-3 Oct. 2024 (b) 4.40 % 48,417 48,917 $270,000 Series 2015-1, Class A-2 Apr. 2025 (b) 4.17 % 259,650 260,999 $200,000 Series 2016-1, Class A-1 (2016) Oct. 2026 (b) 3.96 % 175,861 180,190 $82,000 Series 2019-1, Class A-1 Nov. 2026 (b) 2.82 % 78,180 78,590 $46,000 Series 2019-1, Class A-3 Nov. 2026 (b) 3.32 % 45,291 45,521 $135,000 Series 2016-1, Class A-2 (2017) Apr. 2027 (b) 4.32 % 120,182 123,046 $228,000 Series 2018-1, Class A-2 Oct. 2027 (c) 4.29 % 213,638 215,918 $164,000 Series 2018-1, Class A-4 Oct. 2027 (c) 4.74 % 158,807 160,447 $168,500 Series 2021-1, Class A-1 Jun. 2028 (b) 2.12 % 167,236 168,079 $89,000 Series 2021-1, Class A-3 Jun. 2028 (b) 2.86 % 88,333 88,778 $168,500 Series 2021-1, Class A-2 Jun. 2033 (c) 2.96 % 167,236 168,079 $89,000 Series 2021-1, Class A-4 Jun. 2033 (c) 3.70 % 88,333 88,778 $244,000 Series 2019-1, Class A-2 Nov. 2034 (c) 3.65 % 232,634 233,854 $136,000 Series 2019-1, Class A-4 Nov. 2034 (c) 4.49 % 133,903 134,583 Total non-recourse net-lease mortgage notes 2,118,253 2,272,522 Non-recourse mortgage notes: $13,000 note issued May 2012 5.195 % — 9,961 $26,000 note issued August 2012 5.05 % — 20,085 $6,400 note issued November 2012 4.707 % — 4,938 $6,944 notes issued March 2013 Apr. 2038 4.50 % (d) 5,103 5,332 $11,895 note issued March 2013 Apr. 2023 4.7315 % (d) 8,935 9,309 $17,500 note issued August 2013 Sept. 2023 5.46 % 13,701 14,212 $10,075 note issued March 2014 Apr. 2024 5.10 % 8,602 8,808 $65,000 note issued June 2016 Jul. 2026 4.75 % 57,980 59,223 $41,690 note issued March 2019 Mar. 2029 4.80 % 40,662 41,291 $6,350 notes issued March 2019 (assumed in December 2020) Apr. 2049 4.64 % 5,993 6,106 Total non-recourse mortgage notes 140,976 179,265 Unamortized discount (395) (496) Unamortized deferred financing costs (20,364) (25,583) Total non-recourse debt obligations of consolidated special purpose entities, net $ 2,238,470 $ 2,425,708 (a) Notes were repaid, without penalty, in April 2022 using a portion of the proceeds from the aggregate $600.0 million of term loans the Company entered into in April 2022. (b) Prepayable, without penalty, 24 months prior to maturity. (c) Prepayable, without penalty, 36 months prior to maturity. (d) Mortgage note was repaid, without penalty, in January 2023.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2022
Income Taxes
Total current income tax expense	The Company’s total current income tax expense (benefit) was as follows (in thousands): Year ended December 31, 2022 2021 2020 Federal income tax $ — $ — $ (4) State income tax 884 813 588 Total current income tax expense $ 884 $ 813 $ 584
Stock distributions declared characterized for tax	Year ended December 31, 2022 2021 2020 Ordinary income dividends $ 1.1550 $ 1.1606 $ 1.0677 Capital gain dividends — 0.0785 0.0180 Return of capital — 0.2259 0.3243 Cash liquidation distributions 0.4100 — — Total $ 1.5650 $ 1.4650 $ 1.4100

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
Stockholders' Equity (Tables)	Dec. 31, 2022
Stockholders' Equity
Common stock issuance	The following tables outline the common stock issuances under the 2020 ATM Program (in millions except share and per share information): Year Ended December 31, 2022 Shares Sold Weighted Average Price per Share Gross Proceeds Sales Agents' Commissions Other Offering Expenses Net Proceeds 8,607,771 $ 29.38 $ 252.9 $ (3.1) $ (0.2) $ 249.6 Inception of Program Through December 31, 2022 Shares Sold Weighted Average Price per Share Gross Proceeds Sales Agents' Commissions Other Offering Expenses Net Proceeds 19,449,302 $ 31.55 $ 613.7 $ (8.5) $ (0.8) $ 604.4

Long-Term Incentive Plans (Tabl

Long-Term Incentive Plans (Tables)	12 Months Ended
Long-Term Incentive Plans (Tables)	Dec. 31, 2022
Long-Term Incentive Plans
Restricted stock award activity	2022 2021 2020 Weighted Weighted Weighted Number of Average Share Number of Average Share Number of Average Share Shares Price (1) Shares Price (1) Shares Price (1) Outstanding non-vested shares, beginning of year 437,424 $ 25.96 639,554 $ 23.69 285,238 $ 27.70 Shares granted 233,147 $ 29.47 195,278 $ 34.03 491,009 $ 22.63 Shares vested (166,770) $ 26.32 (313,518) $ 26.58 (130,642) $ 28.15 Shares forfeited (56,954) $ 24.93 (83,890) $ 25.09 (6,051) $ 30.89 Outstanding non-vested shares, end of year 446,847 $ 27.79 437,424 $ 25.96 639,554 $ 23.69 (1) Grant date fair value
Schedule of share based compensation restricted stock units	Number of RSUs 2022 (1) 2021 2020 Non-vested and outstanding, beginning of year 1,005,754 1,298,175 1,203,018 RSUs granted 629,307 846,896 534,141 RSUs vested (217,987) (468,466) (376,961) RSUs forfeited — (338,839) (62,023) RSUs not earned (195,036) (332,012) — Non-vested and outstanding, end of year 1,222,038 1,005,754 1,298,175 (1) In connection with the completion of the Merger on February 3, 2023, outstanding performance-based RSUs became earned and vested in accordance with the actual level of performance of STORE or a minimum of target in as of the date of execution of the Merger Agreement.
Schedule of grant date fair value assumptions	2022 2021 2020 Volatility 45.79 % 46.01 % 19.31 % Risk-free interest rate 1.77 % 0.25 % 1.42 % Dividend yield 0.00 % 0.00 % 0.00 %

Summary of Significant Accoun_4

Summary of Significant Accounting Principles (Details)	12 Months Ended
Summary of Significant Accounting Principles (Details)	Dec. 31, 2022 USD ($) instrument segment item	Dec. 31, 2021 USD ($) instrument	Dec. 31, 2020 USD ($)
Basis of Accounting and Principles of Consolidation
Assets owned	$ 10,834,970,000	$ 9,773,082,000
Liabilities owed	$ 5,408,652,000	4,628,953,000
Segment Reporting
Number of reportable segments \| segment	1
Investment portfolio
Number of transaction types	3
Revenue Recognition
Accrued straight-line rental revenue, net of allowance	$ 46,900,000	39,400,000
Leases indexed to increases in the CPI, minimum adjustment period	1 year
Leases indexed to increases in the CPI, minimum multiplier increasing rent (in multipliers)	1
Leases indexed to increases in the CPI, maximum multiplier increasing rent (in multipliers)	1.25
Portion of investment portfolio subject to contingent rent based upon tenant sales (as a percent)	3.20%
Contingent rent as a percentage of rental revenue, historical	2%
Impairments
Provisions for impairment	$ 16,000,000	21,800,000	$ 22,000,000
Estimate fair value of impaired real estate assets	65,300,000
Write-offs charged against allowance	3,700,000
Loans Receivable
Non accrual status loan receivables	$ 31,800,000	28,800,000
Number of classes in portfolio of loans and financing receivables \| item	2
Restricted cash
Restricted cash included in other assets	$ 4,667,000	$ 5,780,000	10,195,000
Restricted Cash and Cash Equivalents, Statement of Financial Position [Extensible Enumeration]	Other assets, net	Other assets, net
Derivative Instruments and Hedging Activities
Number of agreements \| instrument		0
Carrying amount	$ 4,674,229,000
Provision For Impairment
Loans Receivable
Provision for loan losses	400,000	$ 3,200,000	1,000,000
Payment deferral due to COVID-19
Revenue Recognition
Revenue associated with deferral arrangements	1,500,000	8,300,000	57,100,000
Receivables collections	$ 14,500,000	33,400,000	$ 9,900,000
Loans receivable
Loans Receivable
Maximum past due period for loans payments causing nonaccrual status	60 days
Interest rate swaps
Derivative Instruments and Hedging Activities
Number of agreements \| instrument	7
Interest rate swap, due in 2029 \| Designated as hedging instrument
Derivative Instruments and Hedging Activities
Number of agreements \| instrument	1
Current notional amounts	$ 200,000,000
Carrying amount	$ 200,000,000
Interest rate swap, due in 2027 \| Designated as hedging instrument
Derivative Instruments and Hedging Activities
Number of agreements \| instrument	6
Current notional amounts	$ 400,000,000
Carrying amount	$ 400,000,000
Buildings \| Maximum
Accounting for Real Estate Investments
Estimated useful life	40 years
Buildings \| Minimum
Accounting for Real Estate Investments
Estimated useful life	30 years
Land improvements
Accounting for Real Estate Investments
Estimated useful life	15 years
Consolidated special purpose entities
Basis of Accounting and Principles of Consolidation
Assets owned	$ 9,500,000,000	8,500,000,000
Liabilities owed	$ 2,400,000,000	$ 2,600,000,000

Summary of Significant Accoun_5

Summary of Significant Accounting Principles - Net Income Per Common Share (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator:
Net income	$ 327,901	$ 268,348	$ 212,614
Less: Earnings attributable to unvested restricted shares	(558)	(659)	(776)
Net income used in basic and diluted income per share	$ 327,343	$ 267,689	$ 211,838
Denominator:
Weighted average common shares outstanding	280,559,061	270,693,243	253,055,331
Less: Weighted average number of shares of unvested restricted stock (in shares)	453,584	587,974	520,751
Weighted average shares outstanding used in basic income per share (in shares)	280,105,477	270,105,269	252,534,580
Effects of dilutive securities:
Add: Treasury stock method impact of potentially dilutive securities (in shares)			116,460
Weighted average shares outstanding used in diluted income per share (in shares)	280,105,477	270,105,269	252,651,040
Antidilutive unvested restricted shares (in shares)	121,112	225,424	127,136

Investments - Locations (Detail

Investments - Locations (Details) $ in Thousands	12 Months Ended
Investments - Locations (Details) $ in Thousands	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($) property	Dec. 31, 2019 USD ($) property
Number of property locations of investments (in locations) \| property	3,084	2,866	2,634	2,504
Number of owned properties (in properties) \| property	3,034
Number of properties accounted as financing arrangements \| property	100
Number of properties owned as direct financing receivables \| property	22	22
Number of ground lease interests (in properties) \| property	24	24
Number of properties which secure certain mortgage loans (in properties) \| property	26
Gross acquisition cost of real estate investments	$ 11,300,000
Loans and financing receivables, net	787,106	$ 697,269
Operating ground lease assets	$ 31,872	$ 33,318
Investments assets of consolidated special purpose entity subsidiaries and are pledged as collateral under the non-recourse obligations of these special purpose entities	32%
Number of Investment Locations
Gross investments \| property	2,866	2,634	2,504
Acquisition of and additions to real estate \| property	256	307	203
Investment in loans and financing receivables \| property	28	29	11
Sales of real estate \| property	(60)	(103)	(72)
Principal collections on loans and direct financing receivables \| property	(6)	(1)	(12)
Gross investments \| property	3,084	2,866	2,634
Dollar Amount of Investments
Adoption of ASC Topic 326, cumulative adjustment	$ 5,426,318	$ 5,144,129	$ 5,015,778	$ 4,485,385
Gross investments	10,748,937	9,639,766	8,854,921
Acquisition of and additions to real estate	1,475,499	1,427,278	959,842
Investment in loans and financing receivables	158,676	125,049	156,721
Sales of real estate	(197,530)	(339,658)	(222,556)
Principal collections on loans and direct financing receivables	76,868	61,942	80,521
Operating ground lease assets, net	31,872	33,318
Provisions for impairment	(16,428)	(24,979)	(23,003)
Other	(10,997)	(15,212)	(13,602)
Gross investments	12,079,843	10,748,937	9,639,766
Less accumulated depreciation and amortization	(1,438,107)
Net investments	10,641,736	9,587,740
Tenant improvement advances disbursed	22,600	21,200	16,900
Tenant funded improvements to real estate investments	10,550
Interest capitalized	2,300	800	800
Non-cash principal collections related to loans receivable	8,900	42,800	30,600
Sale-leaseback transactions accounted for as financing arrangements	$ 369,600	255,500
Number of properties owned \| property	3,034
Mortgage loans made to purchasers of multiple real estate properties sold			3,200
Cumulative Effect, Period of Adoption, Adjustment
Dollar Amount of Investments
Adoption of ASC Topic 326, cumulative adjustment			(2,465)
Ground leases
Operating ground lease assets	$ 31,900		10,429
Dollar Amount of Investments
Operating ground lease assets, net	31,900		$ 10,429
Net change in operating ground lease assets	$ (1,446)	$ (1,365)

Investments - Revenue Recognize

Investments - Revenue Recognized from Investment Portfolio (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Rental revenues:
Operating leases	$ 845,880	$ 728,477	$ 644,733
Sublease income - operating ground lease assets	2,812	2,809	2,096
Amortization of lease related intangibles and costs	(2,272)	(2,225)	(2,331)
Total rental revenues	846,420	729,061	644,498
Interest income on loans and financing receivables:
Mortgage and other loans receivable	26,667	24,959	18,097
Sale-leaseback transactions accounted for as financing arrangements	24,140	17,883	15,376
Direct financing receivables	5,969	7,979	11,815
Total interest income on loans and financing receivables	56,776	50,821	45,288
Property tax tenant reimbursement revenue	3,100	2,600	2,500
Variable lease revenue	1,000	11,200	4,000
Payment deferral due to COVID-19
Rental revenues:
Total rental revenues	$ 1,500	$ 8,300	$ 57,100

Investments - Significant Credi

Investments - Significant Credit and Revenue Concentration (Details)	12 Months Ended
	Dec. 31, 2022 customer item state
Real estate investment portfolio
Significant Credit and Revenue Concentration
Number of industries	126
Real estate investment portfolio \| Geographic concentration
Significant Credit and Revenue Concentration
Number of states over which real estate investments are dispersed (in states) \| state	49
Concentration Percentage for threshold	10%
Real estate investment portfolio \| Geographic concentration \| Minimum
Significant Credit and Revenue Concentration
Number of customers \| customer	587
Real estate investment portfolio \| Geographic concentration \| Texas
Significant Credit and Revenue Concentration
Concentration Percentage	11%
Number of states accounting for 10% or more \| state	1
Real estate investment portfolio \| Customer concentration
Significant Credit and Revenue Concentration
Concentration Percentage for threshold	10%
Number of customers representing more than 10%	0
Real estate investment portfolio \| Customer concentration \| Largest customer, investment portfolio \| Maximum
Significant Credit and Revenue Concentration
Concentration Percentage	2.70%
Real estate investment portfolio \| Product Concentration Risk \| Service
Significant Credit and Revenue Concentration
Concentration Percentage	62%
Real estate investment portfolio \| Product Concentration Risk \| Service Oriented Retail
Significant Credit and Revenue Concentration
Concentration Percentage	16%
Real estate investment portfolio \| Product Concentration Risk \| Manufacturing
Significant Credit and Revenue Concentration
Concentration Percentage	22%
Real estate investment portfolio \| Industry
Significant Credit and Revenue Concentration
Number of industries	1
Real estate investment portfolio \| Industry \| Restaurants
Significant Credit and Revenue Concentration
Concentration Percentage	11%
Investment portfolio revenues \| Customer concentration \| Largest customer, investment portfolio revenues
Significant Credit and Revenue Concentration
Concentration Percentage	2.80%

Investments - Portfolio Diversi

Investments - Portfolio Diversification (Details) $ in Thousands	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($) property	Dec. 31, 2019 USD ($) property
Investments.
Number of Investment Locations \| property	3,084	2,866	2,634	2,504
Dollar Amount of Investments \| $	$ 12,079,843	$ 10,748,937	$ 9,639,766	$ 8,854,921

Investments - Intangible Lease

Investments - Intangible Lease Assets and Real Estate Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Options period item property	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Accounting for Real Estate Investments
Remaining noncancelable lease term	13 years 1 month 6 days
Number of real estate properties vacant not subject to lease \| property	16
Future minimum rentals to be received under the remaining noncancelable term of the operating leases
2023	$ 908,961
2024	902,039
2025	898,423
2026	892,006
2027	880,092
Thereafter	7,402,655
Total future minimum rentals	$ 11,884,176
Option to extend	true
Number of renewal periods at the option of the Company \| period	1
Term of renewal options	5 years
Intangible lease assets	$ 61,968	$ 54,971
Accumulated amortization	(27,278)	(25,285)
Net intangible lease assets	34,690	29,686
Amortization in the next five years
2023	3,500
2024	3,000
2025	2,500
2026	2,300
2027	$ 2,200
Minimum
Future minimum rentals to be received under the remaining noncancelable term of the operating leases
Typical number of renewal options \| item	1
Number of renewal periods at the option of the Company \| Options	2
Maximum
Future minimum rentals to be received under the remaining noncancelable term of the operating leases
Number of renewal periods at the option of the Company \| Options	4
Amortization expense
Future minimum rentals to be received under the remaining noncancelable term of the operating leases
Amount amortized	$ 3,700	3,500	$ 4,300
In -place leases
Future minimum rentals to be received under the remaining noncancelable term of the operating leases
Intangible lease assets	$ 42,519	35,522
Amortization in the next five years
Weighted average remaining amortization period	10 years
Ground lease interests
Future minimum rentals to be received under the remaining noncancelable term of the operating leases
Intangible lease assets	$ 19,449	19,449
Amortization in the next five years
Weighted average remaining amortization period	42 years
Above-market leases \| Decrease to rental revenue
Future minimum rentals to be received under the remaining noncancelable term of the operating leases
Amount amortized		$ 200	$ 1,000

Investments - Operating Lease A

Investments - Operating Lease Asset (Details)	12 Months Ended
Investments - Operating Lease Asset (Details)	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating ground lease assets	$ 31,872,000	$ 33,318,000
Rental revenue	$ 2,812,000	2,809,000	$ 2,096,000
Renewal period	5 years
Option to extend	true
Future minimum lease payments
Total operating lease liabilities - ground leases	$ 36,873,000	37,637,000
Ground lease by STORE capital
Future minimum lease payments
Long-term lease commitment	$ 19,000,000
Ground lease by STORE capital tenants
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of ground lease payments based on level of tenant's sales \| property	3
Ground leases
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating ground lease assets	$ 31,900,000		10,429,000
Lease costs	3,300,000	3,300,000	2,400,000
Rental revenue	$ 2,800,000	2,800,000	$ 2,100,000
Option to extend	true
Weighted average remaining non-cancelable lease term	22 years
Weighted average discount rate	5.70%
Future minimum lease payments
2023	$ 6,778,000
2024	2,766,000
2025	2,452,000
2026	2,290,000
2027	2,284,000
Thereafter	45,296,000
Total lease payments	61,866,000
Less imputed interest	(29,374,000)
Total operating lease liabilities - ground leases	32,492,000
Ground leases \| Ground lease by STORE capital
Future minimum lease payments
2023	4,149,000
2024	55,000
2025	57,000
2026	57,000
2027	57,000
Thereafter	3,014,000
Total lease payments	7,389,000
Less imputed interest	(2,663,000)
Total operating lease liabilities - ground leases	4,726,000
Ground leases \| Ground lease by STORE capital tenants
Future minimum lease payments
2023	2,629,000
2024	2,711,000
2025	2,395,000
2026	2,233,000
2027	2,227,000
Thereafter	42,282,000
Total lease payments	54,477,000
Less imputed interest	(26,711,000)
Total operating lease liabilities - ground leases	$ 27,766,000
Ground leases \| Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ground lease remaining terms	1 year
Renewal period	3 years
Ground leases \| Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Ground lease remaining terms	89 years
Renewal period	10 years
Corporate office space
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating ground lease assets		$ 3,900,000
Future minimum lease payments
2023	$ 977,000
2024	994,000
2025	1,000,000
2026	1,000,000
2027	701,000
Thereafter	292,000
Total operating lease liabilities - ground leases	$ 4,400,000

Investments - Loans and Financi

Investments - Loans and Financing Receivables (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($) loan	Dec. 31, 2020 USD ($)	Jan. 01, 2020 USD ($)	Dec. 31, 2019 USD ($)
Loans and direct financing receivables
Number of mortgage loans \| loan	23
Mortgage loans receivable	$ 342,420	$ 342,317	$ 301,355		$ 202,557
Total principal payments	361,517
Unamortized loan origination costs	1,011	1,046
Sale-leaseback transactions accounted for as financing arrangements	369,600	255,500
Direct financing receivables	60,899	78,637
Allowance for credit and loan losses	(5,925)	(9,208)
Total loans and direct financing receivables	787,106	697,269
Credit loss reserves recognized		$ 4,600		$ 2,500
Write-offs charged against allowance	3,700
ASU 2016-13
Loans and direct financing receivables
Write-offs charged against allowance	$ 3,700
Credit loss reserve				$ 2,500
Mortgage Loans Receivable With Maturity Range 2023 To 2026
Loans and direct financing receivables
Number of mortgage loans \| loan	4	4
Mortgage loans receivable with maturity range 2032 to 2036
Loans and direct financing receivables
Number of mortgage loans \| loan	3	3
Mortgage Loans Receivable With Maturities Ranging From 2042 To 2062
Loans and direct financing receivables
Number of mortgage loans \| loan	16	16
Number of mortgage loans allowing for prepayment in whole \| loan	4
Mortgage Loans Receivable With Maturities Ranging From 2042 To 2062 \| Minimum
Loans and direct financing receivables
Prepayment penalties (as a percent)	20%
Mortgage Loans Receivable With Maturities Ranging From 2042 To 2062 \| Maximum
Loans and direct financing receivables
Prepayment penalties (as a percent)	70%
Loans receivable
Loans and direct financing receivables
Total principal payments	$ 361,517	$ 371,311
Mortgage Loans Receivable
Loans and direct financing receivables
Mortgage loans receivable	$ 345,675	345,902
Mortgage Loans Receivable \| Mortgage Loans Receivable With Maturity Range 2023 To 2026
Loans and direct financing receivables
Stated Interest Rate (as a percent)	8.03%
Mortgage loans receivable	$ 104,069	114,911
Mortgage Loans Receivable \| Mortgage loans receivable with maturity range 2032 to 2036
Loans and direct financing receivables
Stated Interest Rate (as a percent)	8.81%
Mortgage loans receivable	$ 9,967	14,444
Mortgage Loans Receivable \| Mortgage Loans Receivable With Maturities Ranging From 2042 To 2062
Loans and direct financing receivables
Stated Interest Rate (as a percent)	8.45%
Mortgage loans receivable	$ 231,639	216,547
Equipment And Other Loans Receivable \| Equipment And Other Loans Receivable Maturity Range 2023 To 2036 [Member]
Loans and direct financing receivables
Equipment and other loans receivable	$ 15,842	25,409
Interest rate of equipment and other loans	7.32
Sale Leaseback Financing Arrangements \| Sale-leaseback transactions accounted for financing arrangements with maturities ranging from 2034 - 2043
Loans and direct financing receivables
Stated Interest Rate (as a percent)	7.52%
Sale-leaseback transactions accounted for as financing arrangements	$ 369,604	255,483
Direct Financing Receivables
Loans and direct financing receivables
Direct financing receivables	$ 60,899	$ 78,637

Investments - Loans Receivable

Investments - Loans Receivable (Details) $ in Thousands	12 Months Ended
Investments - Loans Receivable (Details) $ in Thousands	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($)
Scheduled loan receivable maturities
Number of loans receivable \| loan	38
Gross carrying amount of loans receivable	$ 358,300
Number of mortgage loans \| loan	23
Number of mortgage loans subject to interest rate increases \| loan	11
Number of short-term mortgage loans \| loan	4
Amortization period of long-term mortgage loans	40 years
2023	$ 95,284
2024	2,224
2025	2,028
2026	22,370
2027	2,264
Thereafter	237,347
Total principal payments	361,517
Sale-Leaseback Transactions Accounted for as Financing Arrangements
Sale-leaseback transactions accounted for as financing arrangements	369,600	$ 255,500
2023	28,486
2024	28,622
2025	28,762
2026	28,855
2027	28,956
Thereafter	343,194
Total future scheduled payments	486,875
Components of investments accounted for as direct financing receivables
Minimum lease payments receivable	119,839	159,371
Estimated residual value of leased assets	6,889	8,938
Unearned income	(65,829)	(89,672)
Net investment	60,899	$ 78,637
Future minimum lease payments to be received under the direct financing lease receivables
2023	6,500
2024	6,500
2025	6,500
2026	6,500
2027	6,500
Thereafter	87,500
Scheduled Principal Payments
Scheduled loan receivable maturities
2023	2,452
2024	2,224
2025	2,028
2026	1,999
2027	1,716
Thereafter	207,495
Total principal payments	217,914
Balloon Payments
Scheduled loan receivable maturities
2023	92,832
2026	20,371
2027	548
Thereafter	29,852
Total principal payments	$ 143,603
Minimum
Scheduled loan receivable maturities
Long-term mortgage loans receivable prepayment penalty rate (as a percent)	1%
Maximum
Scheduled loan receivable maturities
Long-term mortgage loans receivable prepayment penalty rate (as a percent)	20%

Investments - Provision for Cre

Investments - Provision for Credit Losses (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Financing Receivable, Allowance for Credit Loss [Line Items]
Write-offs charged against allowance	$ 3.7
Investment Grade
Financing Receivable, Allowance for Credit Loss [Line Items]
Origination for gross loan and financing receivables in 2022	14.5
Origination for gross loan and financing receivables in 2021	35.7
Origination for gross loan and financing receivables in 2020	0
Origination for gross loan and financing receivables in 2019	109.2
Origination for gross loan and financing receivables in 2018	0
Origination for gross loan and financing receivables in prior to 2018	12.4
Non Investment Grade
Financing Receivable, Allowance for Credit Loss [Line Items]
Origination for gross loan and financing receivables in 2022	139.1
Origination for gross loan and financing receivables in 2021	76.7
Origination for gross loan and financing receivables in 2020	90.4
Origination for gross loan and financing receivables in 2019	125.7
Origination for gross loan and financing receivables in 2018	31.3
Origination for gross loan and financing receivables in prior to 2018	157
ASU 2016-13
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses	0.4
Write-offs charged against allowance	3.7
Recoveries of amounts previously written off	0
ASU 2016-13 \| Investment Grade
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and financing receivables	171.8
ASU 2016-13 \| Non Investment Grade
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans and financing receivables	$ 620.2

Debt - Credit Facility (Details

Debt - Credit Facility (Details) $ in Thousands				1 Months Ended			12 Months Ended
Debt - Credit Facility (Details) $ in Thousands	Feb. 03, 2023 USD ($) Options	Dec. 31, 2022 USD ($) agreement instrument loan	Feb. 09, 2018	Dec. 31, 2022 USD ($) agreement instrument loan	Apr. 30, 2022 USD ($)	Jun. 30, 2021	Dec. 31, 2022 USD ($) agreement instrument loan	Mar. 22, 2023 agreement	Jan. 01, 2023 USD ($)	Dec. 31, 2021 USD ($) instrument
Credit facilities
Number of agreements \| instrument										0
Outstanding balance		$ 555,000		$ 555,000			$ 555,000			$ 130,000
Unamortized financing costs related to all debt		13,481		13,481			13,481			12,447
Consolidated special purpose entities
Credit facilities
Unamortized financing costs related to all debt		20,364		20,364			20,364			25,583
Revolving credit facility
Credit facilities
Unamortized financing costs related to all debt		2,600		2,600			$ 2,600			$ 3,700
Revolving credit facility \| Subsequent Event
Credit facilities
Unsecured loan facility	$ 500,000
Number of extension options \| Options	2
Extension option term	6 months
Extension fee (as a percent)	0.075%
Revolving credit facility \| Minimum \| Subsequent Event
Credit facilities
Facility fee (as a percent)	0.15%
Revolving credit facility \| Maximum \| Subsequent Event
Credit facilities
Facility fee (as a percent)	0.30%
Revolving credit facility \| SOFR \| Subsequent Event
Credit facilities
Adjustment to floating rate	0.10%
Revolving credit facility \| SOFR \| Minimum \| Subsequent Event
Credit facilities
Credit spread (as a percent)	1%
Revolving credit facility \| SOFR \| Maximum \| Subsequent Event
Credit facilities
Credit spread (as a percent)	1.45%
Senior Unsecured Notes
Unsecured Term Notes Payable
Contingent periodic interest rate increase for failure to maintain investment grade credit rating							1%
Prepayment applied to principal plus make-whole amount (as a percent)							100%
Principal amount		$ 375,000		$ 375,000			$ 375,000
Number of loans \| loan		3		3			3
Senior Unsecured Notes \| Minimum
Unsecured Term Notes Payable
Prepayment threshold (as a percent)							5%
Interest rate swaps
Credit facilities
Number of agreements \| instrument		7		7			7
Interest rate swaps \| Subsequent Event
Credit facilities
Number of agreements \| agreement								1
New unsecured credit facility \| Revolving credit facility
Credit facilities
Eligible unencumbered assets (in dollars)		$ 8,200,000		$ 8,200,000			$ 8,200,000
Amended unsecured revolving credit facility \| Revolving credit facility
Credit facilities
Unsecured loan facility		600,000		600,000			600,000
Size of the facility with the accordion feature (in dollars)		1,600,000		1,600,000			1,600,000
Accordion feature							1,000,000
Outstanding balance		555,000		555,000			$ 555,000
Amended unsecured revolving credit facility \| Revolving credit facility \| Minimum
Credit facilities
Facility fee (as a percent)							0.10%
Amended unsecured revolving credit facility \| Revolving credit facility \| Maximum
Credit facilities
Facility fee (as a percent)							0.30%
Amended unsecured revolving credit facility \| Revolving credit facility \| LIBOR
Credit facilities
Debt Instrument interest rate description						LIBOR
Credit spread (as a percent)							0.85%
Facility fee (as a percent)							0.20%
Amended unsecured revolving credit facility \| Revolving credit facility \| LIBOR \| Minimum
Credit facilities
Credit spread (as a percent)							0.70%
Amended unsecured revolving credit facility \| Revolving credit facility \| LIBOR \| Maximum
Credit facilities
Credit spread (as a percent)							1.40%
Amended unsecured revolving credit facility \| Revolving credit facility \| Base rate
Credit facilities
Debt Instrument interest rate description						Base Rate
Amended unsecured revolving credit facility \| Revolving credit facility \| Base rate \| Minimum
Credit facilities
Credit spread (as a percent)							0%
Amended unsecured revolving credit facility \| Revolving credit facility \| Base rate \| Maximum
Credit facilities
Credit spread (as a percent)			0.40%				0.40%
Unsecured Term Loan
Credit facilities
Unsecured loan facility		$ 100,000		$ 100,000			$ 100,000
Aggregate amount of additional borrowing available									$ 100,000
Effective fixed rate		5.35%		5.35%			5.35%
Unsecured Term Notes Payable
Principal amount		$ 90,000		$ 90,000	$ 600,000		$ 90,000
Average fixed interest rate					3.68%
Unsecured Term Loan \| Subsequent Event
Unsecured Term Notes Payable
Principal amount	$ 600,000
Unsecured Term Loan \| SOFR
Credit facilities
Adjustment to floating rate				0.10%	0.10%
Credit spread (as a percent)				0.95%
Unsecured Term Loan \| SOFR \| Subsequent Event
Credit facilities
Adjustment to floating rate	0.10%
Unsecured Term Loan \| SOFR \| Minimum
Credit facilities
Credit spread (as a percent)				0.75%
Unsecured Term Loan \| SOFR \| Minimum \| Subsequent Event
Credit facilities
Credit spread (as a percent)	1.10%
Unsecured Term Loan \| SOFR \| Maximum
Credit facilities
Credit spread (as a percent)				1.60%
Unsecured Term Loan \| SOFR \| Maximum \| Subsequent Event
Credit facilities
Credit spread (as a percent)	1.70%
Unsecured Five Year Term Loan
Credit facilities
Number of agreements \| agreement		6		6			6
Unsecured Term Notes Payable
Stated interest rate (as a percent)		3.58%		3.58%			3.58%
Principal amount					$ 400,000
Initial term		5 years			5 years
Unsecured Five Year Term Loan \| SOFR
Credit facilities
Adjustment to floating rate					0.10%
Credit spread (as a percent)		0.95%					0.95%
Unsecured Five Year Term Loan \| SOFR \| Minimum
Credit facilities
Credit spread (as a percent)					0.75%
Unsecured Five Year Term Loan \| SOFR \| Maximum
Credit facilities
Credit spread (as a percent)					1.60%
Unsecured Seven Year Term Loan
Unsecured Term Notes Payable
Stated interest rate (as a percent)		3.88%		3.88%			3.88%
Principal amount					$ 200,000
Initial term		7 years			7 years
Prepayment premium, percentage, year one					2%
Payment premium, percentage, year two					1%
Unsecured Seven Year Term Loan \| SOFR
Credit facilities
Adjustment to floating rate							0.10%
Credit spread (as a percent)		1.25%					1.25%
Number of agreements \| agreement		1		1			1
Unsecured Seven Year Term Loan \| SOFR \| Minimum
Credit facilities
Credit spread (as a percent)					1.25%
Unsecured Seven Year Term Loan \| SOFR \| Maximum
Credit facilities
Credit spread (as a percent)					2.20%

Debt - Carrying Amount (Details

Debt - Carrying Amount (Details) $ in Thousands		1 Months Ended		12 Months Ended
Debt - Carrying Amount (Details) $ in Thousands	Dec. 31, 2022 USD ($) loan	Nov. 30, 2022 USD ($)	Apr. 30, 2022 USD ($)	Dec. 31, 2022 USD ($) loan	Dec. 31, 2021 USD ($)	Feb. 03, 2023 USD ($)	Nov. 30, 2021 USD ($)	Nov. 30, 2020 USD ($)	Feb. 28, 2019	Mar. 31, 2018
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Amount outstanding	$ 2,100,000			$ 2,100,000
Unamortized discount	(4,113)			(4,113)	$ (4,740)
Unamortized deferred financing costs	(13,481)			(13,481)	(12,447)
Total unsecured notes and term loans payable, net	2,397,406			2,397,406	$ 1,782,813
Interest rate swaps that were in a liability position	0			0
Credit Risk Related Contingent Features
Derivative liabilities	0			0
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
2023	139,913			139,913
2024	315,706			315,706
2025	276,389			276,389
2026	549,796			549,796
2027	869,693			869,693
Thereafter	2,522,732			2,522,732
Long-term Debt	$ 4,674,229			$ 4,674,229
Various Debt, Prepayable Twenty-Four Months Prior to Maturity
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Number of months prior to maturity that a debt instrument can be prepaid without penalty				24 months	24 months
Various Debt, Prepayable Thirty-Six Months Prior to Maturity
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Number of months prior to maturity that a debt instrument can be prepaid without penalty				36 months	36 months
Unsecured Term Loan
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Effective fixed rate	5.35%			5.35%
Principal amount	$ 90,000		$ 600,000	$ 90,000
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 690,000			$ 690,000
Unsecured Term Loan \| Subsequent Event
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount						$ 600,000
Unsecured One Year Term Loan
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)	5.35%			5.35%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 90,000			$ 90,000
Unsecured Five Year Term Loan
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Expected repayment term of receivables	5 years		5 years
Stated interest rate (as a percent)	3.58%			3.58%
Principal amount			$ 400,000
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 400,000			$ 400,000
Unsecured Seven Year Term Loan
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Expected repayment term of receivables	7 years		7 years
Stated interest rate (as a percent)	3.88%			3.88%
Principal amount			$ 200,000
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 200,000			$ 200,000
Consolidated special purpose entities
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Aggregate investment amount	3,600,000			3,600,000
Unamortized discount	(395)			(395)	$ (496)
Unamortized deferred financing costs	(20,364)			(20,364)	(25,583)
Total unsecured notes and term loans payable, net	2,238,470			2,238,470	2,425,708
Scheduled Principal Payments
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
2023	22,628			22,628
2024	21,908			21,908
2025	19,777			19,777
2026	17,654			17,654
2027	9,221			9,221
Thereafter	26,882			26,882
Long-term Debt	118,070			118,070
Balloon Payments
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
2023	117,285			117,285
2024	293,798			293,798
2025	256,612			256,612
2026	532,142			532,142
2027	860,472			860,472
Thereafter	2,495,850			2,495,850
Long-term Debt	4,556,159			4,556,159
Senior Unsecured Notes
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Amount outstanding	300,000			300,000
Principal amount	375,000			375,000
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 1,725,000			$ 1,725,000	1,800,000
Senior Unsecured Notes \| Series A issued November 2015
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)		4.95%
Amount repaid		$ 75,000
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt					75,000
Senior Unsecured Notes \| Series B issued November 2015
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)	5.24%			5.24%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 100,000			$ 100,000	100,000
Senior Unsecured Notes \| Series C issued April 2016
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)	4.73%			4.73%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 200,000			$ 200,000	200,000
Senior Unsecured Notes \| Public Notes issued March 2018
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)	4.50%			4.50%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 350,000			$ 350,000	350,000
Senior Unsecured Notes \| Public Notes Issued February 2019
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)	4.625%			4.625%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 350,000			$ 350,000	350,000
Senior Unsecured Notes \| Public Notes Issued November 2020
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)	2.75%			2.75%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 350,000			$ 350,000	350,000
Senior Unsecured Notes \| Public Notes Issued November 2021
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)	2.70%			2.70%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 375,000			$ 375,000	375,000
Senior Unsecured Notes \| Notes Issued March 2018 99.515 Percent Of Par
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)										4.50%
Note issue price (as a percent)										99.515%
Senior Unsecured Notes \| Notes Issued February 2019 99.260 Percent Of Par
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)									4.625%
Note issue price (as a percent)									99.26%
Senior Unsecured Notes \| Notes Issued November 2020 99.558 Percent Of Par
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)								2.75%
Note issue price (as a percent)								99.558%
Senior Unsecured Notes \| Notes Issued November 2021 99.877 Percent Of Par
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Stated interest rate (as a percent)							2.70%
Note issue price (as a percent)							99.877%
Public notes
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Number of facilities \| loan	4			4
Expected repayment term of receivables				10 years
Principal amount							$ 375,000	$ 350,000
Non-recourse net-lease mortgage notes:
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Retained non-amortizing notes	$ 190,000			$ 190,000
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	2,118,253			2,118,253	2,272,522
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 20141, Class A2 Due April 2024
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Amortization of deferred financing costs			800
Principal amount	140,000		$ 134,500	$ 140,000
Interest Rate			5%	5%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt					134,692
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2018-1 Class A-1 Due October 2024
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	150,000			$ 150,000
Interest Rate				3.96%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	140,552			$ 140,552	142,051
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2018-1 Class A-3 Due October 2024
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	50,000			$ 50,000
Interest Rate				4.40%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	48,417			$ 48,417	48,917
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2015-1, Class A-2 Due April 2025
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	270,000			$ 270,000
Interest Rate				4.17%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	259,650			$ 259,650	260,999
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2016-1, Class A-1 (2016) Due Oct 2026
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	200,000			$ 200,000
Interest Rate				3.96%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	175,861			$ 175,861	180,190
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2016-1, Class A-2 (2017) Due April 2027
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	135,000			$ 135,000
Interest Rate				4.32%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	120,182			$ 120,182	123,046
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2018-1 Class A-2 Due October 2027
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	228,000			228,000
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2018-1 Class A-4 Due October 2027
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	164,000			164,000
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2019-1, Class A-1 November 2026
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	82,000			$ 82,000
Interest Rate				2.82%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	78,180			$ 78,180	78,590
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2019-1, Class A-3 November 2026
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	46,000			$ 46,000
Interest Rate				3.32%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	45,291			$ 45,291	45,521
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2019-1, Class A-2 November 2034
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	244,000			$ 244,000
Interest Rate				3.65%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	232,634			$ 232,634	233,854
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2019-1, Class A-4 November 2034
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	136,000			$ 136,000
Interest Rate				4.49%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	133,903			$ 133,903	134,583
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2021.1, Class A.1 Notes Due June 2028
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	168,500			$ 168,500
Interest Rate				2.12%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	167,236			$ 167,236	168,079
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2021.1, Class A.3 Notes Due June 2028
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	89,000			$ 89,000
Interest Rate				2.86%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	88,333			$ 88,333	88,778
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2021.1, Class A.2 Notes Due June 2033
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	168,500			$ 168,500
Interest Rate				2.96%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	167,236			$ 167,236	168,079
Non-recourse net-lease mortgage notes: \| Consolidated special purpose entities \| Series 2021.1, Class A.4 Notes Due June 2033
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	89,000			$ 89,000
Interest Rate				3.70%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	88,333			$ 88,333	88,778
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Aggregate investment amount	250,700			250,700
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	140,976			140,976	179,265
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities \| $13,000 note issued May 2012
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	13,000			$ 13,000
Interest Rate				5.195%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt					9,961
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities \| $26,000 note issued August 2012
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	26,000			$ 26,000
Interest Rate				5.05%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt					20,085
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities \| $6,400 note issued November 2012
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	6,400			$ 6,400
Interest Rate				4.707%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt					4,938
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities \| $6,944 notes issued March 2013
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	6,944			$ 6,944
Interest Rate				4.50%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	5,103			$ 5,103	5,332
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities \| $11,895 note issued March 2013
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	11,895			$ 11,895
Interest Rate				4.7315%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	8,935			$ 8,935	9,309
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities \| $17,500 note issued August 2013
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	17,500			$ 17,500
Interest Rate				5.46%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	13,701			$ 13,701	14,212
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities \| $10,075 note issued March 2014
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	10,075			$ 10,075
Interest Rate				5.10%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	8,602			$ 8,602	8,808
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities \| $65,000 note issued June 2016
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	65,000			$ 65,000
Interest Rate				4.75%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	57,980			$ 57,980	59,223
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities \| $41,690 note issued March 2019
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	41,690			$ 41,690
Interest Rate				4.80%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	40,662			$ 40,662	41,291
Nonrecourse mortgage notes payable: \| Consolidated special purpose entities \| $6,350 notes issued March 2019 (assumed in December 2020)
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Principal amount	6,350			$ 6,350
Interest Rate				4.64%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	5,993			$ 5,993	6,106
Non-recourse debt obligations \| Consolidated special purpose entities \| Series 2018-1 Class A-2 Due October 2027
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Interest Rate				4.29%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	213,638			$ 213,638	215,918
Non-recourse debt obligations \| Consolidated special purpose entities \| Series 2018-1 Class A-4 Due October 2027
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Interest Rate				4.74%
Scheduled maturities, including balloon payments, on the nonrecourse debt obligations
Long-term Debt	$ 158,807			$ 158,807	$ 160,447
Minimum
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Maximum number of months				24 months
Maximum
Summary of nonrecourse debt obligations of consolidated special purpose entity subsidiaries
Maximum number of months				36 months

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2011
Current income tax expense from continuing operations
Federal income tax			$ (4)
State income tax	$ 884	$ 813	588
Total current income tax expense	884	813	$ 584
Net operating loss carryforwards				$ 1,500
Liability relating to uncertain income tax positions	0	0
Accrual for interest or penalties	$ 0	$ 0
Ordinary income dividends	$ 1.1550	$ 1.1606	$ 1.0677
Capital gain dividends		0.0785	0.0180
Return of capital		0.2259	0.3243
Cash liquidation distributions	0.4100
Total	$ 1.5650	$ 1.4650	$ 1.4100

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended			26 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Nov. 30, 2020
Common stock.
Gross Proceeds	$ 252,873	$ 247,780	$ 695,944
Declared dividends payable to common stockholders (in dollars)	$ 332,400	$ 405,200	$ 364,000
2020 ATM Program
Common stock.
Shares Sold		8,607,771		19,449,302
Weighted Average Price per Share		$ 29.38		$ 31.55
Gross Proceeds		$ 252,900		$ 613,700
Sales Agents' Commissions		(3,100)		(8,500)
Other Offering Expenses		(200)		(800)
Net Proceeds		$ 249,600		$ 604,400
Maximum value of shares that can be offered and sold					$ 900,000

Long-Term Incentive Plans (Deta

Long-Term Incentive Plans (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2014	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchased in connection with tax withholding obligations (in shares)		202,796	288,132	139,131
Weighted Average Price
Volatility rate (as a percent)		45.79%	46.01%	19.31%
Risk free interest rate (as a percent)		1.77%	0.25%	1.42%
Dividend yield (as a percent)		0%	0%	0%
Compensation expense for share based payments		$ 12.4	$ 32.2	$ 4.7
Unrecognized compensation cost		$ 17.4
2012 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance under plan					1,035,400
Number of shares available for grant		0
2015 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance under plan	6,903,076
Number of shares available for grant		2,507,375
Weighted Average Price
Equivalent percentage of shares that can be issued under 2015 plan	6%
Restricted Stock
Number of shares
Outstanding nonvested shares, beginning of year		437,424	639,554	285,238
Granted in period (in shares)		233,147	195,278	491,009
Vested in period (in shares)		(166,770)	(313,518)	(130,642)
Forfeited in period (in shares)		(56,954)	(83,890)	(6,051)
Outstanding nonvested shares, end of year		446,847	437,424	639,554
Weighted Average Price
Outstanding nonvested shares, beginning of year		$ 25.96	$ 23.69	$ 27.70
Shares granted		29.47	34.03	22.63
Shares vested		26.32	26.58	28.15
Shares forfeited		24.93	25.09	30.89
Outstanding nonvested shares, end of year		$ 27.79	$ 25.96	$ 23.69
Vesting (as a percent)		25%
Restricted stock units
Number of shares
Outstanding nonvested shares, beginning of year		1,005,754	1,298,175	1,203,018
Granted in period (in shares)		629,307	846,896	534,141
Vested in period (in shares)		(217,987)	(468,466)	(376,961)
Forfeited in period (in shares)			(338,839)	(62,023)
Not earned in period (in shares)		195,036	332,012
Outstanding nonvested shares, end of year		1,222,038	1,005,754	1,298,175
Weighted Average Price
Accrued dividend equivalents		$ 0.9	$ 1.3	$ 1.2
Restricted stock units \| Executive Officer
Weighted Average Price
Accrued dividend paid		$ 1.3	2.4	1.1
Restricted stock units \| 2015 Grant
Weighted Average Price
Performance period (in years)		3 years
Restricted stock units \| 2015 Grant \| Minimum
Weighted Average Price
Common shares received at vesting related to total RSUs granted (as a percent)		0%
Restricted stock units \| 2015 Grant \| Maximum
Weighted Average Price
Common shares received at vesting related to total RSUs granted (as a percent)		100%
Restricted stock units \| 2016 Grant
Weighted Average Price
Grant date fair value		$ 6.7	$ 7.8	$ 5.4
Restricted stock units \| Grants 2018, 2019 and 2020
Number of shares
Percentage of shares based on benchmark one (as a percent)		50%
Percentage of shares based on benchmark two (as a percent)		50%
Weighted Average Price
Number of years in performance period		3 years
Restricted stock units \| Grants 2018,2019,2020,2021 and 2022
Weighted Average Price
Number of years in performance period		3 years
Restricted stock units \| Grants 2018,2019,2020,2021 and 2022 \| Three Year Performance Period
Weighted Average Price
Vesting (as a percent)		100%
Restricted stock units \| Grants 2021 and 2022
Number of shares
Percentage of shares based on benchmark one (as a percent)		75%
Percentage of shares based on benchmark two (as a percent)		25%
Weighted Average Price
Number of years in performance period		3 years

Commitments and Contingencies (

Commitments and Contingencies (Details)	1 Months Ended	12 Months Ended
Commitments and Contingencies (Details)	Jan. 31, 2023 lawsuit	Dec. 31, 2022 USD ($) lawsuit	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Commitments and Contingencies
Renewal period		5 years
Rent expense		$ 829,000	$ 735,000	$ 737,000
Future minimum rental commitment
Matching contribution (in percentage)		4%
Matching contribution made by the company (in value)		$ 614,000	$ 603,000	$ 515,000
Merger Litigation
Legal issues
Number of lawsuits filed \| lawsuit		6
Number of lawsuits dismissed \| lawsuit	6
Commitments to fund improvements to real estate properties
Commitments and Contingencies
Real estate property improvement commitments		$ 150,800,000
Real estate property improvement commitments, in Next Twelve Months		129,100,000
Corporate office space
Commitments and Contingencies
2023		977,000
2024		994,000
2025		1,000,000
2026		1,000,000
2027		701,000
Thereafter		$ 292,000

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Derivatives [Line items]
Fair value of derivative assets	$ 31.4	$ 0
Level 2 Fair Value \| Carrying value
Derivatives [Line items]
Long-term debt obligations	4,600	4,200
Level 2 Fair Value \| Fair value
Derivatives [Line items]
Long-term debt obligations	$ 4,100	$ 4,500

Subsequent Events - Completion

Subsequent Events - Completion of Acquisition (Details) - $ / shares	Feb. 03, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsequent Events
Common stock, par value per share		$ 0.01	$ 0.01
Subsequent Events \| Affiliates of GIC and Oak Street Real Estate Capital \| STORE Capital \| Merger Agreement
Subsequent Events
Common stock, par value per share	$ 0.01
The amount to be paid per the merger agreement (per share)	$ 32.25

Subsequent Events - Debt Repaym

Subsequent Events - Debt Repayments and Termination of Agreements (Details) - USD ($) $ in Thousands		2 Months Ended
	Feb. 03, 2023	Mar. 22, 2023	Dec. 31, 2022	Apr. 30, 2022	Dec. 31, 2021
Subsequent Events
Outstanding balance			$ 555,000		$ 130,000
Amount outstanding			2,100,000
Term Loan Agreement
Subsequent Events
Principal amount			90,000	$ 600,000
Senior Unsecured Notes
Subsequent Events
Amount outstanding			300,000
Principal amount			$ 375,000
Subsequent Events \| Term Loan Agreement
Subsequent Events
Principal amount	$ 600,000
Subsequent Events \| Merger Agreement \| Term Loan Agreement
Subsequent Events
Amount outstanding	300,000
Principal amount	600,000
Amount repaid		$ 185,600
Subsequent Events \| Merger Agreement \| Unsecured revolving credit facility \| Term Loan Agreement
Subsequent Events
Outstanding balance	600,000
Subsequent Events \| Merger Agreement \| Unsecured revolving credit facility \| Unsecured, floating-rate, short-term term borrowings (the "December 2022 Term Loan").
Subsequent Events
Amount repaid	$ 130,000

Subsequent Events - Unsecured R

Subsequent Events - Unsecured Revolving Credit Facility and Term Loan (Details) $ in Millions		1 Months Ended
	Feb. 03, 2023 USD ($) Options	Mar. 22, 2023 USD ($) agreement	Dec. 31, 2022 USD ($) instrument	Apr. 30, 2022 USD ($)	Dec. 31, 2021 instrument
Subsequent Events
Number of agreements \| instrument					0
Interest rate swaps
Subsequent Events
Number of agreements \| instrument			7
Unsecured Term Loan
Subsequent Events
Unsecured loan facility			$ 100
Principal amount			$ 90	$ 600
Unsecured Term Loan \| SOFR
Subsequent Events
Adjustment to floating rate			0.10%	0.10%
Credit spread (as a percent)			0.95%
Unsecured Term Loan \| SOFR \| Minimum
Subsequent Events
Credit spread (as a percent)			0.75%
Unsecured Term Loan \| SOFR \| Maximum
Subsequent Events
Credit spread (as a percent)			1.60%
Subsequent Events \| Interest rate swaps
Subsequent Events
Notional amount of interest rate swap agreements		$ 200
Number of agreements \| agreement		1
Subsequent Events \| Unsecured Term Loan
Subsequent Events
Increase in debt		$ 200
Principal amount	$ 600
Fixed rate of existing cash flow hedges effectively convert the variable-rate on the loan	3.88%
Subsequent Events \| Unsecured Term Loan \| SOFR
Subsequent Events
Adjustment to floating rate	0.10%
Subsequent Events \| Unsecured Term Loan \| SOFR \| Minimum
Subsequent Events
Credit spread (as a percent)	1.10%
Subsequent Events \| Unsecured Term Loan \| SOFR \| Maximum
Subsequent Events
Credit spread (as a percent)	1.70%
Subsequent Events \| Unsecured revolving credit facility
Subsequent Events
Unsecured loan facility	$ 500
Increase in debt		150
Number of extension options \| Options	2
Extension option term	6 months
Extension fee (as a percent)	0.075%
Subsequent Events \| Unsecured revolving credit facility \| Minimum
Subsequent Events
Facility fee (as a percent)	0.15%
Subsequent Events \| Unsecured revolving credit facility \| Maximum
Subsequent Events
Facility fee (as a percent)	0.30%
Subsequent Events \| Unsecured revolving credit facility \| SOFR
Subsequent Events
Adjustment to floating rate	0.10%
Subsequent Events \| Unsecured revolving credit facility \| SOFR \| Minimum
Subsequent Events
Credit spread (as a percent)	1%
Subsequent Events \| Unsecured revolving credit facility \| SOFR \| Maximum
Subsequent Events
Credit spread (as a percent)	1.45%
Subsequent Events \| Unsecured revolving credit facility \| LIBOR \| Minimum
Subsequent Events
Credit spread (as a percent)	0%
Subsequent Events \| Unsecured revolving credit facility \| LIBOR \| Maximum
Subsequent Events
Credit spread (as a percent)	0.45%
Subsequent Events \| Unsecured Credit Agreement
Subsequent Events
Increase in debt		$ 350
Potential maximum amount of the revolving commitments and term loans	$ 2,500
Subsequent Events \| Unsecured Credit Agreement \| Unsecured Term Loan
Subsequent Events
Fixed rate of existing cash flow hedges effectively convert the variable-rate on the loan		5.17%

Subsequent Events - Secured Ter

Subsequent Events - Secured Term Loan Facility (Details) $ in Millions		1 Months Ended
	Feb. 03, 2023 USD ($) agreement Options	Mar. 22, 2023 USD ($) agreement	Dec. 31, 2022 instrument	Dec. 31, 2021 instrument
Subsequent Events
Number of agreements \| instrument				0
Interest rate swaps
Subsequent Events
Number of agreements \| instrument			7
Subsequent Events \| Interest rate swaps
Subsequent Events
Number of agreements \| agreement		1
Notional amount of interest rate swap agreements		$ 200
Subsequent Events \| Credit Agreement
Subsequent Events
Repayment of term loan		$ 515
Subsequent Events \| Credit Agreement \| Secured Term Loan Facility
Subsequent Events
Principal amount	$ 2,000
Number of extension options \| Options	2
Extension option term	6 months
Extension fee (as a percent)	0.25%
Notional amount of interest rate swap agreements	$ 750
Fixed rate of interest rate swap agreements effectively convert a portion of the borrowings	7.60%
Effective weighted average interest rate	7.42%
Subsequent Events \| Credit Agreement \| Secured Term Loan Facility \| SOFR
Subsequent Events
Spread (as a percent)	2.75%
Threshold outstanding amount to determine spread	$ 1,500
Spread if amounts outstanding three months following the Closing Date is greater than threshold	3%
Subsequent Events \| Credit Agreement \| Interest rate swaps \| Secured Term Loan Facility
Subsequent Events
Number of agreements \| agreement	3

Subsequent Events - Unregistere

Subsequent Events - Unregistered Sales of Equity Securities (Details) - USD ($)		12 Months Ended
	Feb. 03, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsequent Events
Issuance of common stock, net of costs		$ 249,606,000	$ 243,671,000	$ 686,386,000
Subsequent Events \| Series A Preferred Units
Subsequent Events
Shares Sold	125
Issuance of common stock, net of costs	$ 125,000

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Properties (Details) $ in Thousands		12 Months Ended
	Dec. 31, 2022 USD ($) property item	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	2,936
Encumbrances	$ 140,976	$ 140,976
Land & Improvements, Initial Cost to Company	3,239,415	3,239,415
Building & improvements, Initial Cost to Company	6,942,675	6,942,675
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	216,028	216,028
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	800,779	800,779
Land & Improvements, Gross	3,455,443	3,455,443
Building & Improvements, Gross	7,743,454	7,743,454
Total real estate investments	11,198,897	11,198,897	$ 9,936,320	$ 8,866,666	$ 8,175,034
Accumulated Depreciation	(1,410,829)	(1,410,829)	$ (1,134,007)	$ (911,656)	$ (711,176)
Nonrecourse debt obligations of consolidated special purpose entities, net	$ 2,100,000	$ 2,100,000
Long-Term Debt, Recourse Status [Extensible Enumeration]	us-gaap:NonrecourseMember	us-gaap:NonrecourseMember
Number of single-tenant properties \| property	3,058	3,058
Number of properties owned \| property		3,034
Number of ground lease interests (in properties) \| property	24	24	24
Number of properties accounted as financing arrangements \| property	100	100
Number Of Real Estate Properties Direct Financing Receivables \| property	22	22	22
Intangible lease assets	$ 61,968	$ 61,968	$ 54,971
Aggregate cost for federal income tax purposes	$ 11,633,600	11,633,600
Alabama \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	32
Land & Improvements, Initial Cost to Company	$ 29,876	29,876
Building & improvements, Initial Cost to Company	79,440	79,440
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,858	1,858
Land & Improvements, Gross	29,876	29,876
Building & Improvements, Gross	81,298	81,298
Total real estate investments	111,174	111,174
Accumulated Depreciation	$ (18,141)	(18,141)
Alabama \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	20
Land & Improvements, Initial Cost to Company	$ 14,994	14,994
Building & improvements, Initial Cost to Company	26,005	26,005
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	297	297
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,605	4,605
Land & Improvements, Gross	15,291	15,291
Building & Improvements, Gross	30,610	30,610
Total real estate investments	45,901	45,901
Accumulated Depreciation	$ (6,600)	(6,600)
Alaska \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	9
Land & Improvements, Initial Cost to Company	$ 9,716	9,716
Building & improvements, Initial Cost to Company	25,224	25,224
Land & Improvements, Gross	9,716	9,716
Building & Improvements, Gross	25,224	25,224
Total real estate investments	34,940	34,940
Accumulated Depreciation	$ (2,014)	(2,014)
Alaska \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 828	828
Building & improvements, Initial Cost to Company	702	702
Land & Improvements, Gross	828	828
Building & Improvements, Gross	702	702
Total real estate investments	1,530	1,530
Accumulated Depreciation	$ (281)	(281)
Arizona \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	49
Land & Improvements, Initial Cost to Company	$ 65,400	65,400
Building & improvements, Initial Cost to Company	119,938	119,938
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	9,458	9,458
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	34,553	34,553
Land & Improvements, Gross	74,858	74,858
Building & Improvements, Gross	154,491	154,491
Total real estate investments	229,349	229,349
Accumulated Depreciation	$ (23,871)	(23,871)
Arizona \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	42
Land & Improvements, Initial Cost to Company	$ 63,589	63,589
Building & improvements, Initial Cost to Company	127,075	127,075
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	6,575	6,575
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	40,634	40,634
Land & Improvements, Gross	70,164	70,164
Building & Improvements, Gross	167,709	167,709
Total real estate investments	237,873	237,873
Accumulated Depreciation	$ (33,963)	(33,963)
Arkansas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	28
Land & Improvements, Initial Cost to Company	$ 26,817	26,817
Building & improvements, Initial Cost to Company	44,844	44,844
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	17	17
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	507	507
Land & Improvements, Gross	26,834	26,834
Building & Improvements, Gross	45,351	45,351
Total real estate investments	72,185	72,185
Accumulated Depreciation	$ (11,285)	(11,285)
Arkansas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	20
Land & Improvements, Initial Cost to Company	$ 12,781	12,781
Building & improvements, Initial Cost to Company	24,140	24,140
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	14	14
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,087	4,087
Land & Improvements, Gross	12,795	12,795
Building & Improvements, Gross	28,227	28,227
Total real estate investments	41,022	41,022
Accumulated Depreciation	$ (8,342)	(8,342)
California \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	41
Land & Improvements, Initial Cost to Company	$ 141,429	141,429
Building & improvements, Initial Cost to Company	201,820	201,820
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	8,270	8,270
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	48,732	48,732
Land & Improvements, Gross	149,699	149,699
Building & Improvements, Gross	250,552	250,552
Total real estate investments	400,251	400,251
Accumulated Depreciation	$ (38,511)	(38,511)
California \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	38
Land & Improvements, Initial Cost to Company	$ 57,008	57,008
Building & improvements, Initial Cost to Company	52,238	52,238
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,454	1,454
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,463	4,463
Land & Improvements, Gross	58,462	58,462
Building & Improvements, Gross	56,701	56,701
Total real estate investments	115,163	115,163
Accumulated Depreciation	$ (13,912)	(13,912)
California \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Encumbrances	$ 13,701	13,701
Land & Improvements, Initial Cost to Company	4,528	4,528
Building & improvements, Initial Cost to Company	22,213	22,213
Land & Improvements, Gross	4,528	4,528
Building & Improvements, Gross	22,213	22,213
Total real estate investments	26,741	26,741
Accumulated Depreciation	$ (4,896)	(4,896)
Colorado \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	28
Land & Improvements, Initial Cost to Company	$ 37,170	37,170
Building & improvements, Initial Cost to Company	137,747	137,747
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,703	3,703
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	13,223	13,223
Land & Improvements, Gross	40,873	40,873
Building & Improvements, Gross	150,970	150,970
Total real estate investments	191,843	191,843
Accumulated Depreciation	$ (27,869)	(27,869)
Colorado \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	14
Land & Improvements, Initial Cost to Company	$ 14,413	14,413
Building & improvements, Initial Cost to Company	19,900	19,900
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,602	1,602
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	9,446	9,446
Land & Improvements, Gross	16,015	16,015
Building & Improvements, Gross	29,346	29,346
Total real estate investments	45,361	45,361
Accumulated Depreciation	$ (5,793)	(5,793)
Connecticut \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	21
Land & Improvements, Initial Cost to Company	$ 14,672	14,672
Building & improvements, Initial Cost to Company	45,044	45,044
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,207	1,207
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,785	2,785
Land & Improvements, Gross	15,879	15,879
Building & Improvements, Gross	47,829	47,829
Total real estate investments	63,708	63,708
Accumulated Depreciation	$ (5,788)	(5,788)
Connecticut \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	9
Land & Improvements, Initial Cost to Company	$ 5,657	5,657
Building & improvements, Initial Cost to Company	16,179	16,179
Land & Improvements, Gross	5,657	5,657
Building & Improvements, Gross	16,179	16,179
Total real estate investments	21,836	21,836
Accumulated Depreciation	$ (5,043)	(5,043)
Delaware \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 3,554	3,554
Building & improvements, Initial Cost to Company	5,541	5,541
Land & Improvements, Gross	3,554	3,554
Building & Improvements, Gross	5,541	5,541
Total real estate investments	9,095	9,095
Accumulated Depreciation	$ (927)	(927)
District of Columbia \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 1,108	1,108
Building & improvements, Initial Cost to Company	805	805
Land & Improvements, Gross	1,108	1,108
Building & Improvements, Gross	805	805
Total real estate investments	1,913	1,913
Accumulated Depreciation	$ (75)	(75)
Jacksonville, Florida \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	9
Land & Improvements, Initial Cost to Company	$ 6,943	6,943
Building & improvements, Initial Cost to Company	13,612	13,612
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	313	313
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	975	975
Land & Improvements, Gross	7,256	7,256
Building & Improvements, Gross	14,587	14,587
Total real estate investments	21,843	21,843
Accumulated Depreciation	$ (3,062)	(3,062)
Jacksonville, Florida \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	8
Land & Improvements, Initial Cost to Company	$ 6,902	6,902
Building & improvements, Initial Cost to Company	15,628	15,628
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,039	4,039
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	21,050	21,050
Land & Improvements, Gross	10,941	10,941
Building & Improvements, Gross	36,678	36,678
Total real estate investments	47,619	47,619
Accumulated Depreciation	$ (9,047)	(9,047)
All Other Florida \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	96
Land & Improvements, Initial Cost to Company	$ 139,897	139,897
Building & improvements, Initial Cost to Company	181,506	181,506
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	12,044	12,044
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	43,403	43,403
Land & Improvements, Gross	151,941	151,941
Building & Improvements, Gross	224,909	224,909
Total real estate investments	376,850	376,850
Accumulated Depreciation	$ (32,705)	(32,705)
All Other Florida \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	49
Land & Improvements, Initial Cost to Company	$ 34,917	34,917
Building & improvements, Initial Cost to Company	104,728	104,728
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	5,501	5,501
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	13,213	13,213
Land & Improvements, Gross	40,418	40,418
Building & Improvements, Gross	117,941	117,941
Total real estate investments	158,359	158,359
Accumulated Depreciation	$ (28,444)	(28,444)
Macon, Georgia \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	6
Land & Improvements, Initial Cost to Company	$ 8,487	8,487
Building & improvements, Initial Cost to Company	28,165	28,165
Land & Improvements, Gross	8,487	8,487
Building & Improvements, Gross	28,165	28,165
Total real estate investments	36,652	36,652
Accumulated Depreciation	$ (2,001)	(2,001)
Macon, Georgia \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	2
Land & Improvements, Initial Cost to Company	$ 1,150	1,150
Building & improvements, Initial Cost to Company	1,208	1,208
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	19	19
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	101	101
Land & Improvements, Gross	1,169	1,169
Building & Improvements, Gross	1,309	1,309
Total real estate investments	2,478	2,478
Accumulated Depreciation	$ (492)	(492)
All Other Georgia \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	54
Land & Improvements, Initial Cost to Company	$ 79,278	79,278
Building & improvements, Initial Cost to Company	212,117	212,117
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	9,286	9,286
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	14,595	14,595
Land & Improvements, Gross	88,564	88,564
Building & Improvements, Gross	226,712	226,712
Total real estate investments	315,276	315,276
Accumulated Depreciation	$ (35,152)	(35,152)
All Other Georgia \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	97
Land & Improvements, Initial Cost to Company	$ 82,017	82,017
Building & improvements, Initial Cost to Company	139,077	139,077
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,617	2,617
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	20,252	20,252
Land & Improvements, Gross	84,634	84,634
Building & Improvements, Gross	159,329	159,329
Total real estate investments	243,963	243,963
Accumulated Depreciation	$ (42,173)	(42,173)
Idaho \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	14
Land & Improvements, Initial Cost to Company	$ 21,338	21,338
Building & improvements, Initial Cost to Company	52,049	52,049
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	5,842	5,842
Land & Improvements, Gross	21,338	21,338
Building & Improvements, Gross	57,891	57,891
Total real estate investments	79,229	79,229
Accumulated Depreciation	$ (4,467)	(4,467)
Idaho \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	6
Land & Improvements, Initial Cost to Company	$ 10,979	10,979
Building & improvements, Initial Cost to Company	26,678	26,678
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	9,169	9,169
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,013	3,013
Land & Improvements, Gross	20,148	20,148
Building & Improvements, Gross	29,691	29,691
Total real estate investments	49,839	49,839
Accumulated Depreciation	$ (3,850)	(3,850)
Chicago, Illinois \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	6
Land & Improvements, Initial Cost to Company	$ 16,337	16,337
Building & improvements, Initial Cost to Company	22,122	22,122
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	36	36
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	456	456
Land & Improvements, Gross	16,373	16,373
Building & Improvements, Gross	22,578	22,578
Total real estate investments	38,951	38,951
Accumulated Depreciation	$ (2,760)	(2,760)
Chicago, Illinois \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	7
Land & Improvements, Initial Cost to Company	$ 9,902	9,902
Building & improvements, Initial Cost to Company	14,881	14,881
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,575	1,575
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	6,850	6,850
Land & Improvements, Gross	11,477	11,477
Building & Improvements, Gross	21,731	21,731
Total real estate investments	33,208	33,208
Accumulated Depreciation	$ (4,456)	(4,456)
Albion, Illinois \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	5
Land & Improvements, Initial Cost to Company	$ 9,986	9,986
Building & improvements, Initial Cost to Company	33,298	33,298
Land & Improvements, Gross	9,986	9,986
Building & Improvements, Gross	33,298	33,298
Total real estate investments	43,284	43,284
Accumulated Depreciation	$ (2,519)	(2,519)
All Other Illinois \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	133
Land & Improvements, Initial Cost to Company	$ 95,134	95,134
Building & improvements, Initial Cost to Company	234,320	234,320
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,453	2,453
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	21,026	21,026
Land & Improvements, Gross	97,587	97,587
Building & Improvements, Gross	255,346	255,346
Total real estate investments	352,933	352,933
Accumulated Depreciation	$ (41,610)	(41,610)
All Other Illinois \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	40
Land & Improvements, Initial Cost to Company	$ 57,775	57,775
Building & improvements, Initial Cost to Company	111,569	111,569
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,834	1,834
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	8,938	8,938
Land & Improvements, Gross	59,609	59,609
Building & Improvements, Gross	120,507	120,507
Total real estate investments	180,116	180,116
Accumulated Depreciation	$ (30,896)	(30,896)
Indiana \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	53
Land & Improvements, Initial Cost to Company	$ 78,539	78,539
Building & improvements, Initial Cost to Company	144,348	144,348
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,019	1,019
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,920	4,920
Land & Improvements, Gross	79,558	79,558
Building & Improvements, Gross	149,268	149,268
Total real estate investments	228,826	228,826
Accumulated Depreciation	$ (22,644)	(22,644)
Indiana \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	38
Land & Improvements, Initial Cost to Company	$ 28,244	28,244
Building & improvements, Initial Cost to Company	70,246	70,246
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	205	205
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	992	992
Land & Improvements, Gross	28,449	28,449
Building & Improvements, Gross	71,238	71,238
Total real estate investments	99,687	99,687
Accumulated Depreciation	$ (14,927)	(14,927)
Iowa \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	16
Land & Improvements, Initial Cost to Company	$ 23,092	23,092
Building & improvements, Initial Cost to Company	29,382	29,382
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	20	20
Land & Improvements, Gross	23,092	23,092
Building & Improvements, Gross	29,402	29,402
Total real estate investments	52,494	52,494
Accumulated Depreciation	$ (4,044)	(4,044)
Iowa \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	17
Land & Improvements, Initial Cost to Company	$ 9,716	9,716
Building & improvements, Initial Cost to Company	22,153	22,153
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	947	947
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	6,003	6,003
Land & Improvements, Gross	10,663	10,663
Building & Improvements, Gross	28,156	28,156
Total real estate investments	38,819	38,819
Accumulated Depreciation	$ (8,867)	(8,867)
Kansas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	28
Land & Improvements, Initial Cost to Company	$ 16,222	16,222
Building & improvements, Initial Cost to Company	34,814	34,814
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	6,525	6,525
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	18,316	18,316
Land & Improvements, Gross	22,747	22,747
Building & Improvements, Gross	53,130	53,130
Total real estate investments	75,877	75,877
Accumulated Depreciation	$ (9,771)	(9,771)
Kansas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 3,640	3,640
Building & improvements, Initial Cost to Company	5,071	5,071
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	226	226
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,892	1,892
Land & Improvements, Gross	3,866	3,866
Building & Improvements, Gross	6,963	6,963
Total real estate investments	10,829	10,829
Accumulated Depreciation	$ (1,778)	(1,778)
Kentucky \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	31
Land & Improvements, Initial Cost to Company	$ 31,963	31,963
Building & improvements, Initial Cost to Company	75,004	75,004
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	775	775
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	16,098	16,098
Land & Improvements, Gross	32,738	32,738
Building & Improvements, Gross	91,102	91,102
Total real estate investments	123,840	123,840
Accumulated Depreciation	$ (16,945)	(16,945)
Kentucky \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	37
Land & Improvements, Initial Cost to Company	$ 22,863	22,863
Building & improvements, Initial Cost to Company	44,502	44,502
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	250	250
Land & Improvements, Gross	22,863	22,863
Building & Improvements, Gross	44,752	44,752
Total real estate investments	67,615	67,615
Accumulated Depreciation	$ (12,413)	(12,413)
Louisiana \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	7
Land & Improvements, Initial Cost to Company	$ 4,310	4,310
Building & improvements, Initial Cost to Company	10,101	10,101
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1	1
Land & Improvements, Gross	4,310	4,310
Building & Improvements, Gross	10,102	10,102
Total real estate investments	14,412	14,412
Accumulated Depreciation	$ (1,225)	(1,225)
Louisiana \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	26
Land & Improvements, Initial Cost to Company	$ 27,567	27,567
Building & improvements, Initial Cost to Company	30,940	30,940
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	822	822
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	519	519
Land & Improvements, Gross	28,389	28,389
Building & Improvements, Gross	31,459	31,459
Total real estate investments	59,848	59,848
Accumulated Depreciation	$ (9,326)	(9,326)
Maine \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	17
Land & Improvements, Initial Cost to Company	$ 16,696	16,696
Building & improvements, Initial Cost to Company	60,392	60,392
Land & Improvements, Gross	16,696	16,696
Building & Improvements, Gross	60,392	60,392
Total real estate investments	77,088	77,088
Accumulated Depreciation	$ (4,878)	(4,878)
Maine \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 1,059	1,059
Building & improvements, Initial Cost to Company	2,229	2,229
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	82	82
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	163	163
Land & Improvements, Gross	1,141	1,141
Building & Improvements, Gross	2,392	2,392
Total real estate investments	3,533	3,533
Accumulated Depreciation	$ (1,031)	(1,031)
Maryland \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	7
Land & Improvements, Initial Cost to Company	$ 10,828	10,828
Building & improvements, Initial Cost to Company	12,881	12,881
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	75	75
Land & Improvements, Gross	10,828	10,828
Building & Improvements, Gross	12,956	12,956
Total real estate investments	23,784	23,784
Accumulated Depreciation	$ (2,344)	(2,344)
Maryland \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	5
Land & Improvements, Initial Cost to Company	$ 7,377	7,377
Building & improvements, Initial Cost to Company	14,463	14,463
Land & Improvements, Gross	7,377	7,377
Building & Improvements, Gross	14,463	14,463
Total real estate investments	21,840	21,840
Accumulated Depreciation	$ (2,612)	(2,612)
Massachusetts \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	31
Land & Improvements, Initial Cost to Company	$ 44,283	44,283
Building & improvements, Initial Cost to Company	121,669	121,669
Land & Improvements, Gross	44,283	44,283
Building & Improvements, Gross	121,669	121,669
Total real estate investments	165,952	165,952
Accumulated Depreciation	$ (20,628)	(20,628)
Massachusetts \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	8
Land & Improvements, Initial Cost to Company	$ 20,105	20,105
Building & improvements, Initial Cost to Company	25,687	25,687
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	363	363
Land & Improvements, Gross	20,105	20,105
Building & Improvements, Gross	26,050	26,050
Total real estate investments	46,155	46,155
Accumulated Depreciation	$ (5,612)	(5,612)
Michigan \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	87
Land & Improvements, Initial Cost to Company	$ 106,589	106,589
Building & improvements, Initial Cost to Company	324,817	324,817
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	5,043	5,043
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	24,296	24,296
Land & Improvements, Gross	111,632	111,632
Building & Improvements, Gross	349,113	349,113
Total real estate investments	460,745	460,745
Accumulated Depreciation	$ (52,422)	(52,422)
Michigan \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	37
Land & Improvements, Initial Cost to Company	$ 24,017	24,017
Building & improvements, Initial Cost to Company	40,775	40,775
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	96	96
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	5,167	5,167
Land & Improvements, Gross	24,113	24,113
Building & Improvements, Gross	45,942	45,942
Total real estate investments	70,055	70,055
Accumulated Depreciation	$ (18,221)	(18,221)
Minnesota \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	48
Land & Improvements, Initial Cost to Company	$ 77,176	77,176
Building & improvements, Initial Cost to Company	152,297	152,297
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,136	2,136
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	8,629	8,629
Land & Improvements, Gross	79,312	79,312
Building & Improvements, Gross	160,926	160,926
Total real estate investments	240,238	240,238
Accumulated Depreciation	$ (22,073)	(22,073)
Minnesota \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	37
Land & Improvements, Initial Cost to Company	$ 34,077	34,077
Building & improvements, Initial Cost to Company	58,302	58,302
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	5,787	5,787
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	27,053	27,053
Land & Improvements, Gross	39,864	39,864
Building & Improvements, Gross	85,355	85,355
Total real estate investments	125,219	125,219
Accumulated Depreciation	$ (25,114)	(25,114)
Minnesota \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Encumbrances	$ 11,744	11,744
Land & Improvements, Initial Cost to Company	7,639	7,639
Building & improvements, Initial Cost to Company	11,328	11,328
Land & Improvements, Gross	7,639	7,639
Building & Improvements, Gross	11,328	11,328
Total real estate investments	18,967	18,967
Accumulated Depreciation	$ (4,036)	(4,036)
Mississippi \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	29
Land & Improvements, Initial Cost to Company	$ 23,926	23,926
Building & improvements, Initial Cost to Company	63,965	63,965
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	120	120
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,374	1,374
Land & Improvements, Gross	24,046	24,046
Building & Improvements, Gross	65,339	65,339
Total real estate investments	89,385	89,385
Accumulated Depreciation	$ (11,481)	(11,481)
Mississippi \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	12
Land & Improvements, Initial Cost to Company	$ 12,068	12,068
Building & improvements, Initial Cost to Company	33,833	33,833
Land & Improvements, Gross	12,068	12,068
Building & Improvements, Gross	33,833	33,833
Total real estate investments	45,901	45,901
Accumulated Depreciation	$ (6,177)	(6,177)
Mississippi \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	6
Encumbrances	$ 40,662	40,662
Land & Improvements, Initial Cost to Company	15,385	15,385
Building & improvements, Initial Cost to Company	48,917	48,917
Land & Improvements, Gross	15,385	15,385
Building & Improvements, Gross	48,917	48,917
Total real estate investments	64,302	64,302
Accumulated Depreciation	$ (9,029)	(9,029)
Missouri \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	71
Land & Improvements, Initial Cost to Company	$ 55,797	55,797
Building & improvements, Initial Cost to Company	111,758	111,758
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,318	3,318
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	13,914	13,914
Land & Improvements, Gross	59,115	59,115
Building & Improvements, Gross	125,672	125,672
Total real estate investments	184,787	184,787
Accumulated Depreciation	$ (21,328)	(21,328)
Missouri \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	21
Land & Improvements, Initial Cost to Company	$ 27,850	27,850
Building & improvements, Initial Cost to Company	34,181	34,181
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,308	1,308
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,842	4,842
Land & Improvements, Gross	29,158	29,158
Building & Improvements, Gross	39,023	39,023
Total real estate investments	68,181	68,181
Accumulated Depreciation	$ (8,751)	(8,751)
Missouri \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Encumbrances	$ 8,935	8,935
Land & Improvements, Initial Cost to Company	807	807
Building & improvements, Initial Cost to Company	13,794	13,794
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	620	620
Land & Improvements, Gross	807	807
Building & Improvements, Gross	14,414	14,414
Total real estate investments	15,221	15,221
Accumulated Depreciation	$ (3,424)	(3,424)
Montana \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 2,753	2,753
Building & improvements, Initial Cost to Company	14,468	14,468
Land & Improvements, Gross	2,753	2,753
Building & Improvements, Gross	14,468	14,468
Total real estate investments	17,221	17,221
Accumulated Depreciation	$ (2,340)	(2,340)
Montana \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	3
Land & Improvements, Initial Cost to Company	$ 3,080	3,080
Building & improvements, Initial Cost to Company	1,509	1,509
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,360	2,360
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	8,189	8,189
Land & Improvements, Gross	5,440	5,440
Building & Improvements, Gross	9,698	9,698
Total real estate investments	15,138	15,138
Accumulated Depreciation	$ (475)	(475)
Nebraska \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	10
Land & Improvements, Initial Cost to Company	$ 10,507	10,507
Building & improvements, Initial Cost to Company	5,694	5,694
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	504	504
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	7,175	7,175
Land & Improvements, Gross	11,011	11,011
Building & Improvements, Gross	12,869	12,869
Total real estate investments	23,880	23,880
Accumulated Depreciation	$ (2,590)	(2,590)
Nebraska \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	14
Land & Improvements, Initial Cost to Company	$ 7,005	7,005
Building & improvements, Initial Cost to Company	23,344	23,344
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,745	2,745
Land & Improvements, Gross	7,005	7,005
Building & Improvements, Gross	26,089	26,089
Total real estate investments	33,094	33,094
Accumulated Depreciation	$ (2,888)	(2,888)
Nevada \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	8
Land & Improvements, Initial Cost to Company	$ 11,909	11,909
Building & improvements, Initial Cost to Company	16,545	16,545
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,006	1,006
Land & Improvements, Gross	11,909	11,909
Building & Improvements, Gross	17,551	17,551
Total real estate investments	29,460	29,460
Accumulated Depreciation	$ (2,073)	(2,073)
Nevada \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	5
Land & Improvements, Initial Cost to Company	$ 7,809	7,809
Building & improvements, Initial Cost to Company	16,402	16,402
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,029	1,029
Land & Improvements, Gross	7,809	7,809
Building & Improvements, Gross	17,431	17,431
Total real estate investments	25,240	25,240
Accumulated Depreciation	$ (3,597)	(3,597)
Nevada \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Encumbrances	$ 5,993	5,993
Land & Improvements, Initial Cost to Company	2,770	2,770
Building & improvements, Initial Cost to Company	5,454	5,454
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	25	25
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,259	2,259
Land & Improvements, Gross	2,795	2,795
Building & Improvements, Gross	7,713	7,713
Total real estate investments	10,508	10,508
Accumulated Depreciation	$ (754)	(754)
New Hampshire \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	8
Land & Improvements, Initial Cost to Company	$ 9,233	9,233
Building & improvements, Initial Cost to Company	16,269	16,269
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	877	877
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,718	4,718
Land & Improvements, Gross	10,110	10,110
Building & Improvements, Gross	20,987	20,987
Total real estate investments	31,097	31,097
Accumulated Depreciation	$ (2,510)	(2,510)
New Hampshire \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 1,837	1,837
Building & improvements, Initial Cost to Company	7,914	7,914
Land & Improvements, Gross	1,837	1,837
Building & Improvements, Gross	7,914	7,914
Total real estate investments	9,751	9,751
Accumulated Depreciation	$ (1,365)	(1,365)
New Jersey \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 3,303	3,303
Building & improvements, Initial Cost to Company	5,965	5,965
Land & Improvements, Gross	3,303	3,303
Building & Improvements, Gross	5,965	5,965
Total real estate investments	9,268	9,268
Accumulated Depreciation	$ (693)	(693)
New Jersey \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	7
Land & Improvements, Initial Cost to Company	$ 7,004	7,004
Building & improvements, Initial Cost to Company	29,971	29,971
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	329	329
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,176	2,176
Land & Improvements, Gross	7,333	7,333
Building & Improvements, Gross	32,147	32,147
Total real estate investments	39,480	39,480
Accumulated Depreciation	$ (9,802)	(9,802)
New Mexico \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	6
Land & Improvements, Initial Cost to Company	$ 8,562	8,562
Building & improvements, Initial Cost to Company	19,175	19,175
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	81	81
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	8,486	8,486
Land & Improvements, Gross	8,643	8,643
Building & Improvements, Gross	27,661	27,661
Total real estate investments	36,304	36,304
Accumulated Depreciation	$ (4,367)	(4,367)
New Mexico \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 4,243	4,243
Building & improvements, Initial Cost to Company	6,084	6,084
Land & Improvements, Gross	4,243	4,243
Building & Improvements, Gross	6,084	6,084
Total real estate investments	10,327	10,327
Accumulated Depreciation	$ (1,747)	(1,747)
New York \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	25
Land & Improvements, Initial Cost to Company	$ 49,841	49,841
Building & improvements, Initial Cost to Company	157,415	157,415
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,729	1,729
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,411	3,411
Land & Improvements, Gross	51,570	51,570
Building & Improvements, Gross	160,826	160,826
Total real estate investments	212,396	212,396
Accumulated Depreciation	$ (20,055)	(20,055)
New York \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	15
Land & Improvements, Initial Cost to Company	$ 13,340	13,340
Building & improvements, Initial Cost to Company	32,426	32,426
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	32	32
Land & Improvements, Gross	13,340	13,340
Building & Improvements, Gross	32,458	32,458
Total real estate investments	45,798	45,798
Accumulated Depreciation	$ (4,867)	(4,867)
North Carolina \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	71
Land & Improvements, Initial Cost to Company	$ 51,284	51,284
Building & improvements, Initial Cost to Company	88,801	88,801
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,161	3,161
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	10,591	10,591
Land & Improvements, Gross	54,445	54,445
Building & Improvements, Gross	99,392	99,392
Total real estate investments	153,837	153,837
Accumulated Depreciation	$ (16,033)	(16,033)
North Carolina \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	63
Land & Improvements, Initial Cost to Company	$ 41,023	41,023
Building & improvements, Initial Cost to Company	66,597	66,597
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,071	2,071
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,522	4,522
Land & Improvements, Gross	43,094	43,094
Building & Improvements, Gross	71,119	71,119
Total real estate investments	114,213	114,213
Accumulated Depreciation	$ (19,456)	(19,456)
North Dakota \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 1,405	1,405
Building & improvements, Initial Cost to Company	25,557	25,557
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	371	371
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,740	1,740
Land & Improvements, Gross	1,776	1,776
Building & Improvements, Gross	27,297	27,297
Total real estate investments	29,073	29,073
Accumulated Depreciation	$ (2,306)	(2,306)
North Dakota \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	3
Land & Improvements, Initial Cost to Company	$ 2,642	2,642
Building & improvements, Initial Cost to Company	7,843	7,843
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	172	172
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	278	278
Land & Improvements, Gross	2,814	2,814
Building & Improvements, Gross	8,121	8,121
Total real estate investments	10,935	10,935
Accumulated Depreciation	$ (2,755)	(2,755)
North Dakota \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Encumbrances	$ 13,933	13,933
Land & Improvements, Initial Cost to Company	7,219	7,219
Building & improvements, Initial Cost to Company	16,872	16,872
Land & Improvements, Gross	7,219	7,219
Building & Improvements, Gross	16,872	16,872
Total real estate investments	24,091	24,091
Accumulated Depreciation	$ (5,463)	(5,463)
Columbus, Ohio \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	11
Land & Improvements, Initial Cost to Company	$ 13,975	13,975
Building & improvements, Initial Cost to Company	39,693	39,693
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,272	1,272
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	8,168	8,168
Land & Improvements, Gross	15,247	15,247
Building & Improvements, Gross	47,861	47,861
Total real estate investments	63,108	63,108
Accumulated Depreciation	$ (5,728)	(5,728)
Columbus, Ohio \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	8
Land & Improvements, Initial Cost to Company	$ 5,580	5,580
Building & improvements, Initial Cost to Company	10,911	10,911
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	250	250
Land & Improvements, Gross	5,580	5,580
Building & Improvements, Gross	11,161	11,161
Total real estate investments	16,741	16,741
Accumulated Depreciation	$ (4,353)	(4,353)
All Other Ohio \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	76
Land & Improvements, Initial Cost to Company	$ 93,808	93,808
Building & improvements, Initial Cost to Company	242,103	242,103
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,630	1,630
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	11,981	11,981
Land & Improvements, Gross	95,438	95,438
Building & Improvements, Gross	254,084	254,084
Total real estate investments	349,522	349,522
Accumulated Depreciation	$ (34,418)	(34,418)
All Other Ohio \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	62
Land & Improvements, Initial Cost to Company	$ 45,156	45,156
Building & improvements, Initial Cost to Company	135,854	135,854
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	21	21
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,009	1,009
Land & Improvements, Gross	45,177	45,177
Building & Improvements, Gross	136,863	136,863
Total real estate investments	182,040	182,040
Accumulated Depreciation	$ (37,169)	(37,169)
Oklahoma \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	25
Land & Improvements, Initial Cost to Company	$ 23,292	23,292
Building & improvements, Initial Cost to Company	34,801	34,801
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,721	1,721
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	7,549	7,549
Land & Improvements, Gross	25,013	25,013
Building & Improvements, Gross	42,350	42,350
Total real estate investments	67,363	67,363
Accumulated Depreciation	$ (11,595)	(11,595)
Oklahoma \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	31
Land & Improvements, Initial Cost to Company	$ 31,372	31,372
Building & improvements, Initial Cost to Company	46,137	46,137
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	459	459
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,052	2,052
Land & Improvements, Gross	31,831	31,831
Building & Improvements, Gross	48,189	48,189
Total real estate investments	80,020	80,020
Accumulated Depreciation	$ (22,176)	(22,176)
Oklahoma \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	3
Encumbrances	$ 3,140	3,140
Land & Improvements, Initial Cost to Company	2,907	2,907
Building & improvements, Initial Cost to Company	3,843	3,843
Land & Improvements, Gross	2,907	2,907
Building & Improvements, Gross	3,843	3,843
Total real estate investments	6,750	6,750
Accumulated Depreciation	$ (1,627)	(1,627)
Oregon \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	5
Land & Improvements, Initial Cost to Company	$ 2,827	2,827
Building & improvements, Initial Cost to Company	7,447	7,447
Land & Improvements, Gross	2,827	2,827
Building & Improvements, Gross	7,447	7,447
Total real estate investments	10,274	10,274
Accumulated Depreciation	$ (1,314)	(1,314)
Oregon \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	5
Land & Improvements, Initial Cost to Company	$ 8,147	8,147
Building & improvements, Initial Cost to Company	4,648	4,648
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	460	460
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	159	159
Land & Improvements, Gross	8,607	8,607
Building & Improvements, Gross	4,807	4,807
Total real estate investments	13,414	13,414
Accumulated Depreciation	$ (1,566)	(1,566)
Pennsylvania \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	68
Land & Improvements, Initial Cost to Company	$ 66,881	66,881
Building & improvements, Initial Cost to Company	208,806	208,806
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	290	290
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,720	3,720
Land & Improvements, Gross	67,171	67,171
Building & Improvements, Gross	212,526	212,526
Total real estate investments	279,697	279,697
Accumulated Depreciation	$ (18,427)	(18,427)
Pennsylvania \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	33
Land & Improvements, Initial Cost to Company	$ 35,711	35,711
Building & improvements, Initial Cost to Company	56,440	56,440
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,439	1,439
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,487	4,487
Land & Improvements, Gross	37,150	37,150
Building & Improvements, Gross	60,927	60,927
Total real estate investments	98,077	98,077
Accumulated Depreciation	$ (17,300)	(17,300)
Pennsylvania \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Encumbrances	$ 8,602	8,602
Land & Improvements, Initial Cost to Company	4,398	4,398
Building & improvements, Initial Cost to Company	11,502	11,502
Land & Improvements, Gross	4,398	4,398
Building & Improvements, Gross	11,502	11,502
Total real estate investments	15,900	15,900
Accumulated Depreciation	$ (6,238)	(6,238)
Rhode Island \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	7
Land & Improvements, Initial Cost to Company	$ 6,318	6,318
Building & improvements, Initial Cost to Company	15,049	15,049
Land & Improvements, Gross	6,318	6,318
Building & Improvements, Gross	15,049	15,049
Total real estate investments	21,367	21,367
Accumulated Depreciation	$ (1,161)	(1,161)
Rhode Island \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	6
Land & Improvements, Initial Cost to Company	$ 4,854	4,854
Building & improvements, Initial Cost to Company	12,253	12,253
Land & Improvements, Gross	4,854	4,854
Building & Improvements, Gross	12,253	12,253
Total real estate investments	17,107	17,107
Accumulated Depreciation	$ (1,052)	(1,052)
South Carolina \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	52
Land & Improvements, Initial Cost to Company	$ 33,905	33,905
Building & improvements, Initial Cost to Company	127,234	127,234
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,187	3,187
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	13,136	13,136
Land & Improvements, Gross	37,092	37,092
Building & Improvements, Gross	140,370	140,370
Total real estate investments	177,462	177,462
Accumulated Depreciation	$ (23,488)	(23,488)
South Carolina \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	38
Land & Improvements, Initial Cost to Company	$ 28,501	28,501
Building & improvements, Initial Cost to Company	52,408	52,408
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,310	1,310
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	9,940	9,940
Land & Improvements, Gross	29,811	29,811
Building & Improvements, Gross	62,348	62,348
Total real estate investments	92,159	92,159
Accumulated Depreciation	$ (15,465)	(15,465)
South Dakota \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	14
Land & Improvements, Initial Cost to Company	$ 18,662	18,662
Building & improvements, Initial Cost to Company	50,338	50,338
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	6,737	6,737
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	20,437	20,437
Land & Improvements, Gross	25,399	25,399
Building & Improvements, Gross	70,775	70,775
Total real estate investments	96,174	96,174
Accumulated Depreciation	$ (9,409)	(9,409)
South Dakota \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	3
Land & Improvements, Initial Cost to Company	$ 3,573	3,573
Building & improvements, Initial Cost to Company	9,662	9,662
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	719	719
Land & Improvements, Gross	3,573	3,573
Building & Improvements, Gross	10,381	10,381
Total real estate investments	13,954	13,954
Accumulated Depreciation	$ (3,721)	(3,721)
Tennessee \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	47
Land & Improvements, Initial Cost to Company	$ 60,502	60,502
Building & improvements, Initial Cost to Company	163,699	163,699
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	441	441
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	7,228	7,228
Land & Improvements, Gross	60,943	60,943
Building & Improvements, Gross	170,927	170,927
Total real estate investments	231,870	231,870
Accumulated Depreciation	$ (22,529)	(22,529)
Tennessee \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	68
Land & Improvements, Initial Cost to Company	$ 59,849	59,849
Building & improvements, Initial Cost to Company	94,037	94,037
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,049	3,049
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	8,503	8,503
Land & Improvements, Gross	62,898	62,898
Building & Improvements, Gross	102,540	102,540
Total real estate investments	165,438	165,438
Accumulated Depreciation	$ (30,596)	(30,596)
Abilene, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 3,831	3,831
Building & improvements, Initial Cost to Company	44,208	44,208
Land & Improvements, Gross	3,831	3,831
Building & Improvements, Gross	44,208	44,208
Total real estate investments	$ 48,039	48,039
Abilene, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 593	593
Building & improvements, Initial Cost to Company	2,023	2,023
Land & Improvements, Gross	593	593
Building & Improvements, Gross	2,023	2,023
Total real estate investments	2,616	2,616
Accumulated Depreciation	$ (832)	(832)
Amarillo, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 4,002	4,002
Building & improvements, Initial Cost to Company	11,473	11,473
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,164	3,164
Land & Improvements, Gross	4,002	4,002
Building & Improvements, Gross	14,637	14,637
Total real estate investments	18,639	18,639
Accumulated Depreciation	$ (1,604)	(1,604)
Amarillo, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 269	269
Building & improvements, Initial Cost to Company	457	457
Land & Improvements, Gross	269	269
Building & Improvements, Gross	457	457
Total real estate investments	726	726
Accumulated Depreciation	$ (104)	(104)
Amarillo, Texas \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Encumbrances	$ 1,018	1,018
Land & Improvements, Initial Cost to Company	927	927
Building & improvements, Initial Cost to Company	1,330	1,330
Land & Improvements, Gross	927	927
Building & Improvements, Gross	1,330	1,330
Total real estate investments	2,257	2,257
Accumulated Depreciation	$ (637)	(637)
Arlington, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	2
Land & Improvements, Initial Cost to Company	$ 1,595	1,595
Building & improvements, Initial Cost to Company	4,761	4,761
Land & Improvements, Gross	1,595	1,595
Building & Improvements, Gross	4,761	4,761
Total real estate investments	6,356	6,356
Accumulated Depreciation	$ (979)	(979)
Arlington, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 3,353	3,353
Building & improvements, Initial Cost to Company	10,077	10,077
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	129	129
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,521	1,521
Land & Improvements, Gross	3,482	3,482
Building & Improvements, Gross	11,598	11,598
Total real estate investments	15,080	15,080
Accumulated Depreciation	$ (2,546)	(2,546)
Austin, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 6,058	6,058
Building & improvements, Initial Cost to Company	11,115	11,115
Land & Improvements, Gross	6,058	6,058
Building & Improvements, Gross	11,115	11,115
Total real estate investments	17,173	17,173
Accumulated Depreciation	$ (2,273)	(2,273)
Austin, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 2,212	2,212
Building & improvements, Initial Cost to Company	3,600	3,600
Land & Improvements, Gross	2,212	2,212
Building & Improvements, Gross	3,600	3,600
Total real estate investments	5,812	5,812
Accumulated Depreciation	$ (1,207)	(1,207)
Corpus Christi, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	5
Land & Improvements, Initial Cost to Company	$ 10,731	10,731
Building & improvements, Initial Cost to Company	15,967	15,967
Land & Improvements, Gross	10,731	10,731
Building & Improvements, Gross	15,967	15,967
Total real estate investments	26,698	26,698
Accumulated Depreciation	$ (6,289)	(6,289)
Corpus Christi, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	2
Land & Improvements, Initial Cost to Company	$ 2,020	2,020
Building & improvements, Initial Cost to Company	1,128	1,128
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	743	743
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	316	316
Land & Improvements, Gross	2,763	2,763
Building & Improvements, Gross	1,444	1,444
Total real estate investments	4,207	4,207
Accumulated Depreciation	$ (436)	(436)
Cypress, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	2
Land & Improvements, Initial Cost to Company	$ 2,098	2,098
Building & improvements, Initial Cost to Company	4,322	4,322
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	391	391
Land & Improvements, Gross	2,098	2,098
Building & Improvements, Gross	4,713	4,713
Total real estate investments	6,811	6,811
Accumulated Depreciation	$ (486)	(486)
Cypress, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 4,223	4,223
Building & improvements, Initial Cost to Company	9,504	9,504
Land & Improvements, Gross	4,223	4,223
Building & Improvements, Gross	9,504	9,504
Total real estate investments	13,727	13,727
Accumulated Depreciation	$ (1,035)	(1,035)
Fort Worth, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	5
Land & Improvements, Initial Cost to Company	$ 9,695	9,695
Building & improvements, Initial Cost to Company	13,715	13,715
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,565	1,565
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	5,915	5,915
Land & Improvements, Gross	11,260	11,260
Building & Improvements, Gross	19,630	19,630
Total real estate investments	30,890	30,890
Accumulated Depreciation	$ (5,740)	(5,740)
Fort Worth, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	2
Land & Improvements, Initial Cost to Company	$ 5,361	5,361
Building & improvements, Initial Cost to Company	13,744	13,744
Land & Improvements, Gross	5,361	5,361
Building & Improvements, Gross	13,744	13,744
Total real estate investments	19,105	19,105
Accumulated Depreciation	$ (2,798)	(2,798)
Frisco, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 5,683	5,683
Building & improvements, Initial Cost to Company	10,790	10,790
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	190	190
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	924	924
Land & Improvements, Gross	5,873	5,873
Building & Improvements, Gross	11,714	11,714
Total real estate investments	17,587	17,587
Accumulated Depreciation	$ (1,633)	(1,633)
Frisco, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	2
Land & Improvements, Initial Cost to Company	$ 4,214	4,214
Building & improvements, Initial Cost to Company	6,362	6,362
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	24	24
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	30	30
Land & Improvements, Gross	4,238	4,238
Building & Improvements, Gross	6,392	6,392
Total real estate investments	10,630	10,630
Accumulated Depreciation	$ (2,218)	(2,218)
Harlingen, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 3,768	3,768
Building & improvements, Initial Cost to Company	11,342	11,342
Land & Improvements, Gross	3,768	3,768
Building & Improvements, Gross	11,342	11,342
Total real estate investments	15,110	15,110
Accumulated Depreciation	$ (1,585)	(1,585)
Harlingen, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 487	487
Building & improvements, Initial Cost to Company	391	391
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	819	819
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	2,293	2,293
Land & Improvements, Gross	1,306	1,306
Building & Improvements, Gross	2,684	2,684
Total real estate investments	3,990	3,990
Accumulated Depreciation	$ (487)	(487)
Houston, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	22
Land & Improvements, Initial Cost to Company	$ 25,548	25,548
Building & improvements, Initial Cost to Company	29,177	29,177
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	695	695
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	8,769	8,769
Land & Improvements, Gross	26,243	26,243
Building & Improvements, Gross	37,946	37,946
Total real estate investments	64,189	64,189
Accumulated Depreciation	$ (5,034)	(5,034)
Houston, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	10
Land & Improvements, Initial Cost to Company	$ 16,673	16,673
Building & improvements, Initial Cost to Company	23,655	23,655
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	8,204	8,204
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	7,146	7,146
Land & Improvements, Gross	24,877	24,877
Building & Improvements, Gross	30,801	30,801
Total real estate investments	55,678	55,678
Accumulated Depreciation	$ (9,801)	(9,801)
Humble, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	2
Land & Improvements, Initial Cost to Company	$ 3,468	3,468
Building & improvements, Initial Cost to Company	1,885	1,885
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,989	1,989
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	11,451	11,451
Land & Improvements, Gross	5,457	5,457
Building & Improvements, Gross	13,336	13,336
Total real estate investments	18,793	18,793
Accumulated Depreciation	$ (3,182)	(3,182)
Humble, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	3
Land & Improvements, Initial Cost to Company	$ 1,732	1,732
Building & improvements, Initial Cost to Company	3,567	3,567
Land & Improvements, Gross	1,732	1,732
Building & Improvements, Gross	3,567	3,567
Total real estate investments	5,299	5,299
Accumulated Depreciation	$ (1,128)	(1,128)
Irving, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	3
Land & Improvements, Initial Cost to Company	$ 5,212	5,212
Building & improvements, Initial Cost to Company	6,577	6,577
Land & Improvements, Gross	5,212	5,212
Building & Improvements, Gross	6,577	6,577
Total real estate investments	11,789	11,789
Accumulated Depreciation	$ (1,513)	(1,513)
Irving, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 1,375	1,375
Building & improvements, Initial Cost to Company	4,661	4,661
Land & Improvements, Gross	1,375	1,375
Building & Improvements, Gross	4,661	4,661
Total real estate investments	6,036	6,036
Accumulated Depreciation	$ (1,223)	(1,223)
Katy, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 5,100	5,100
Building & improvements, Initial Cost to Company	6,242	6,242
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	438	438
Land & Improvements, Gross	5,100	5,100
Building & Improvements, Gross	6,680	6,680
Total real estate investments	11,780	11,780
Accumulated Depreciation	$ (933)	(933)
Katy, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 1,564	1,564
Building & improvements, Initial Cost to Company	2,651	2,651
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	159	159
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,507	1,507
Land & Improvements, Gross	1,723	1,723
Building & Improvements, Gross	4,158	4,158
Total real estate investments	5,881	5,881
Accumulated Depreciation	$ (764)	(764)
League City, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	2
Land & Improvements, Initial Cost to Company	$ 7,417	7,417
Building & improvements, Initial Cost to Company	12,612	12,612
Land & Improvements, Gross	7,417	7,417
Building & Improvements, Gross	12,612	12,612
Total real estate investments	20,029	20,029
Accumulated Depreciation	$ (2,637)	(2,637)
Lubbock, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 1,512	1,512
Building & improvements, Initial Cost to Company	7,836	7,836
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	342	342
Land & Improvements, Gross	1,512	1,512
Building & Improvements, Gross	8,178	8,178
Total real estate investments	9,690	9,690
Accumulated Depreciation	$ (1,391)	(1,391)
Lubbock, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	5
Land & Improvements, Initial Cost to Company	$ 9,980	9,980
Building & improvements, Initial Cost to Company	16,629	16,629
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,529	1,529
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,066	3,066
Land & Improvements, Gross	11,509	11,509
Building & Improvements, Gross	19,695	19,695
Total real estate investments	31,204	31,204
Accumulated Depreciation	$ (5,526)	(5,526)
Lubbock, Texas \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Encumbrances	$ 946	946
Land & Improvements, Initial Cost to Company	1,289	1,289
Building & improvements, Initial Cost to Company	808	808
Land & Improvements, Gross	1,289	1,289
Building & Improvements, Gross	808	808
Total real estate investments	2,097	2,097
Accumulated Depreciation	$ (393)	(393)
McAllen, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	3
Land & Improvements, Initial Cost to Company	$ 2,810	2,810
Building & improvements, Initial Cost to Company	5,268	5,268
Land & Improvements, Gross	2,810	2,810
Building & Improvements, Gross	5,268	5,268
Total real estate investments	8,078	8,078
Accumulated Depreciation	$ (934)	(934)
McAllen, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	4
Land & Improvements, Initial Cost to Company	$ 5,491	5,491
Building & improvements, Initial Cost to Company	10,558	10,558
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	583	583
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,293	1,293
Land & Improvements, Gross	6,074	6,074
Building & Improvements, Gross	11,851	11,851
Total real estate investments	17,925	17,925
Accumulated Depreciation	$ (3,521)	(3,521)
Mesquite, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	2
Land & Improvements, Initial Cost to Company	$ 1,455	1,455
Building & improvements, Initial Cost to Company	8,967	8,967
Land & Improvements, Gross	1,455	1,455
Building & Improvements, Gross	8,967	8,967
Total real estate investments	10,422	10,422
Accumulated Depreciation	$ (347)	(347)
Mesquite, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 1,795	1,795
Building & improvements, Initial Cost to Company	5,837	5,837
Land & Improvements, Gross	1,795	1,795
Building & Improvements, Gross	5,837	5,837
Total real estate investments	7,632	7,632
Accumulated Depreciation	$ (1,545)	(1,545)
San Antonio, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	13
Land & Improvements, Initial Cost to Company	$ 15,537	15,537
Building & improvements, Initial Cost to Company	19,398	19,398
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	745	745
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,320	1,320
Land & Improvements, Gross	16,282	16,282
Building & Improvements, Gross	20,718	20,718
Total real estate investments	37,000	37,000
Accumulated Depreciation	$ (3,596)	(3,596)
San Antonio, Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	5
Land & Improvements, Initial Cost to Company	$ 10,611	10,611
Building & improvements, Initial Cost to Company	11,711	11,711
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	531	531
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,680	1,680
Land & Improvements, Gross	11,142	11,142
Building & Improvements, Gross	13,391	13,391
Total real estate investments	24,533	24,533
Accumulated Depreciation	$ (2,742)	(2,742)
Yoakum, Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	1
Land & Improvements, Initial Cost to Company	$ 2,325	2,325
Building & improvements, Initial Cost to Company	22,099	22,099
Land & Improvements, Gross	2,325	2,325
Building & Improvements, Gross	22,099	22,099
Total real estate investments	24,424	24,424
Accumulated Depreciation	$ (553)	(553)
All Other Texas \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	152
Land & Improvements, Initial Cost to Company	$ 110,530	110,530
Building & improvements, Initial Cost to Company	219,485	219,485
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,729	4,729
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	37,720	37,720
Land & Improvements, Gross	115,259	115,259
Building & Improvements, Gross	257,205	257,205
Total real estate investments	372,464	372,464
Accumulated Depreciation	$ (39,751)	(39,751)
All Other Texas \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	58
Land & Improvements, Initial Cost to Company	$ 57,371	57,371
Building & improvements, Initial Cost to Company	110,327	110,327
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,405	3,405
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	14,918	14,918
Land & Improvements, Gross	60,776	60,776
Building & Improvements, Gross	125,245	125,245
Total real estate investments	186,021	186,021
Accumulated Depreciation	$ (30,725)	(30,725)
Utah \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	10
Land & Improvements, Initial Cost to Company	$ 19,300	19,300
Building & improvements, Initial Cost to Company	31,266	31,266
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	403	403
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3,870	3,870
Land & Improvements, Gross	19,703	19,703
Building & Improvements, Gross	35,136	35,136
Total real estate investments	54,839	54,839
Accumulated Depreciation	$ (6,925)	(6,925)
Utah \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| property	5
Land & Improvements, Initial Cost to Company	$ 6,282	6,282
Building & improvements, Initial Cost to Company	13,773	13,773
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	109	109
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	796	796
Land & Improvements, Gross	6,391	6,391
Building & Improvements, Gross	14,569	14,569
Total real estate investments	20,960	20,960
Accumulated Depreciation	$ (1,160)	(1,160)
Vermont \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	5
Land & Improvements, Initial Cost to Company	$ 1,747	1,747
Building & improvements, Initial Cost to Company	2,230	2,230
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4	4
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	354	354
Land & Improvements, Gross	1,751	1,751
Building & Improvements, Gross	2,584	2,584
Total real estate investments	4,335	4,335
Accumulated Depreciation	$ (369)	(369)
Vermont \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	2
Land & Improvements, Initial Cost to Company	$ 955	955
Building & improvements, Initial Cost to Company	829	829
Land & Improvements, Gross	955	955
Building & Improvements, Gross	829	829
Total real estate investments	1,784	1,784
Accumulated Depreciation	$ (410)	(410)
Virginia \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	31
Land & Improvements, Initial Cost to Company	$ 47,225	47,225
Building & improvements, Initial Cost to Company	105,632	105,632
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,906	4,906
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	6,846	6,846
Land & Improvements, Gross	52,131	52,131
Building & Improvements, Gross	112,478	112,478
Total real estate investments	164,609	164,609
Accumulated Depreciation	$ (8,749)	(8,749)
Virginia \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	15
Land & Improvements, Initial Cost to Company	$ 8,750	8,750
Building & improvements, Initial Cost to Company	15,019	15,019
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	106	106
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	585	585
Land & Improvements, Gross	8,856	8,856
Building & Improvements, Gross	15,604	15,604
Total real estate investments	24,460	24,460
Accumulated Depreciation	$ (5,067)	(5,067)
Washington \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	11
Land & Improvements, Initial Cost to Company	$ 14,178	14,178
Building & improvements, Initial Cost to Company	31,693	31,693
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	144	144
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,396	1,396
Land & Improvements, Gross	14,322	14,322
Building & Improvements, Gross	33,089	33,089
Total real estate investments	47,411	47,411
Accumulated Depreciation	$ (6,333)	(6,333)
Washington \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	11
Land & Improvements, Initial Cost to Company	$ 24,332	24,332
Building & improvements, Initial Cost to Company	18,031	18,031
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	1,570	1,570
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	5,239	5,239
Land & Improvements, Gross	25,902	25,902
Building & Improvements, Gross	23,270	23,270
Total real estate investments	49,172	49,172
Accumulated Depreciation	$ (5,761)	(5,761)
West Virginia \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	12
Land & Improvements, Initial Cost to Company	$ 10,486	10,486
Building & improvements, Initial Cost to Company	24,861	24,861
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	846	846
Land & Improvements, Gross	10,486	10,486
Building & Improvements, Gross	25,707	25,707
Total real estate investments	36,193	36,193
Accumulated Depreciation	$ (4,018)	(4,018)
West Virginia \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	11
Land & Improvements, Initial Cost to Company	$ 9,341	9,341
Building & improvements, Initial Cost to Company	8,572	8,572
Land & Improvements, Gross	9,341	9,341
Building & Improvements, Gross	8,572	8,572
Total real estate investments	17,913	17,913
Accumulated Depreciation	$ (3,208)	(3,208)
Wisconsin \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	62
Land & Improvements, Initial Cost to Company	$ 80,908	80,908
Building & improvements, Initial Cost to Company	234,526	234,526
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	29,129	29,129
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	48,739	48,739
Land & Improvements, Gross	110,037	110,037
Building & Improvements, Gross	283,265	283,265
Total real estate investments	393,302	393,302
Accumulated Depreciation	$ (43,119)	(43,119)
Wisconsin \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	27
Land & Improvements, Initial Cost to Company	$ 18,568	18,568
Building & improvements, Initial Cost to Company	71,421	71,421
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,287	4,287
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	4,032	4,032
Land & Improvements, Gross	22,855	22,855
Building & Improvements, Gross	75,453	75,453
Total real estate investments	98,308	98,308
Accumulated Depreciation	$ (14,424)	(14,424)
Wisconsin \| Collateral For CMBS Debt Dollar value
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	3
Encumbrances	$ 32,302	32,302
Land & Improvements, Initial Cost to Company	17,490	17,490
Building & improvements, Initial Cost to Company	39,558	39,558
Land & Improvements, Gross	17,490	17,490
Building & Improvements, Gross	39,558	39,558
Total real estate investments	57,048	57,048
Accumulated Depreciation	$ (11,592)	(11,592)
Wyoming \| Unencumbered
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	3
Land & Improvements, Initial Cost to Company	$ 962	962
Building & improvements, Initial Cost to Company	3,634	3,634
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	3	3
Land & Improvements, Gross	962	962
Building & Improvements, Gross	3,637	3,637
Total real estate investments	4,599	4,599
Accumulated Depreciation	$ (423)	(423)
Wyoming \| (f)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Properties \| item	4
Land & Improvements, Initial Cost to Company	$ 5,572	5,572
Building & improvements, Initial Cost to Company	6,539	6,539
Land & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	5,743	5,743
Building & Improvements, Cost Capitalized Subsequent to Acquisition including Impairment	6,060	6,060
Land & Improvements, Gross	11,315	11,315
Building & Improvements, Gross	12,599	12,599
Total real estate investments	23,914	23,914
Accumulated Depreciation	$ (1,629)	$ (1,629)

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of total real estate carrying value
Balance, beginning of year	$ 9,936,320	$ 8,866,666	$ 8,175,034
Acquisitions	1,333,088	1,300,142	834,023
Improvements	135,781	143,665	130,051
Provision for impairment of real estate	16,050	21,800	21,978
Cost of real estate sold	(181,492)	(312,418)	(212,818)
Reclasses to held for sale		(27,059)	(26,462)
Balance, end of year	11,198,897	9,936,320	8,866,666
Reconciliation of accumulated depreciation for the years ended:
Balance, beginning of year	(1,134,007)	(911,656)	(711,176)
Depreciation expense	(304,588)	(262,566)	(238,853)
Accumulated depreciation associated with real estate sold	(19,016)	(25,434)	(23,031)
Other	8,750	12,876	11,184
Reclasses to held for sale		1,905	4,158
Balance, end of year	$ (1,410,829)	$ (1,134,007)	$ (911,656)
Buildings \| Minimum
Reconciliation of accumulated depreciation for the years ended:
Estimated useful life	30 years
Buildings \| Maximum
Reconciliation of accumulated depreciation for the years ended:
Estimated useful life	40 years
Land improvements
Reconciliation of accumulated depreciation for the years ended:
Estimated useful life	15 years

Schedule IV - Mortgage Loans _2

Schedule IV - Mortgage Loans on Real Estate (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) property loan	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Mortgage Loans on Real Estate
Outstanding face amount of mortgages	$ 345,675
Carrying amount of mortgages	342,420	$ 342,317	$ 301,355
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning of year	342,317	301,355	202,557
New mortgage loans	68,912	75,666	132,542
Other capitalized loan origination costs	85	98	155
Collections of principal	(69,279)	(32,046)	(32,151)
Other: Provision for loan losses	503	(2,704)	(1,670)
Other: Amortization of loan origination costs	(118)	(52)	(78)
Balance, end of year	342,420	342,317	301,355
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Mortgages held for federal income tax purposes	346,500
Mortgage loans previously classified as deferred financing receivables	15,200	19,800
Non-cash transaction	$ 8,900	$ 30,800	$ 23,400
Movie Theater Properties, North Carolina
Mortgage Loans on Real Estate
Interest Rate	8.35%
Final Payment Terms, Balloon payment	$ 12,200
Prior Liens	0
Outstanding face amount of mortgages	12,161
Carrying amount of mortgages	9,745
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 9,745
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	2
Restaurant, Indiana
Mortgage Loans on Real Estate
Interest Rate	10%
Final Payment Terms, Balloon payment	$ 200
Prior Liens	0
Outstanding face amount of mortgages	219
Carrying amount of mortgages	219
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 219
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	2
Elementary School Secured By Properties California And Virginia
Mortgage Loans on Real Estate
Interest Rate	8%
Final Payment Terms, Balloon payment	$ 70,800
Prior Liens	0
Outstanding face amount of mortgages	70,775
Carrying amount of mortgages	71,198
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 71,198
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	3
Metal Tank Manufacturing Properties Located in Illinois, Tennessee and Texas
Mortgage Loans on Real Estate
Interest Rate	7.90%
Final Payment Terms, Balloon payment	$ 20,000
Prior Liens	0
Outstanding face amount of mortgages	21,000
Carrying amount of mortgages	20,550
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 20,550
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	3
Restaurant Secured By Properties, Louisiana
Mortgage Loans on Real Estate
Interest Rate	8.61%
Final Payment Terms, Balloon payment	$ 1,900
Prior Liens	0
Outstanding face amount of mortgages	2,084
Carrying amount of mortgages	2,087
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 2,087
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	2
Restaurant Secured By Properties, Mississippi
Mortgage Loans on Real Estate
Interest Rate	8.68%
Final Payment Terms, Balloon payment	$ 5,100
Prior Liens	0
Outstanding face amount of mortgages	5,514
Carrying amount of mortgages	5,519
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 5,519
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	5
Restaurant Secured By Property In Montana
Mortgage Loans on Real Estate
Interest Rate	9.29%
Final Payment Terms, Balloon payment	$ 2,100
Prior Liens	0
Outstanding face amount of mortgages	2,369
Carrying amount of mortgages	2,369
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 2,369
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	1
Textile Manufacturer Property In South Carolina
Mortgage Loans on Real Estate
Interest Rate	8.25%
Final Payment Terms, Balloon payment	$ 13,100
Prior Liens	0
Outstanding face amount of mortgages	14,500
Carrying amount of mortgages	14,345
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 14,345
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	1
Car Wash Properties Located In Nebraska, Pennsylvania, and Texas
Mortgage Loans on Real Estate
Interest Rate	8.25%
Prior Liens	$ 0
Outstanding face amount of mortgages	24,204
Carrying amount of mortgages	24,026
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 24,026
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	10
Restaurant, Tennessee
Mortgage Loans on Real Estate
Interest Rate	8.25%
Prior Liens	$ 0
Outstanding face amount of mortgages	3,549
Carrying amount of mortgages	3,536
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 3,536
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	5
Sporting goods property located in California
Mortgage Loans on Real Estate
Interest Rate	7.90%
Final Payment Terms, Balloon payment	$ 6,000
Prior Liens	0
Outstanding face amount of mortgages	16,883
Carrying amount of mortgages	16,831
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 16,831
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	1
Floral merchant wholesaler properties located in California
Mortgage Loans on Real Estate
Interest Rate	8.35%
Prior Liens	$ 0
Outstanding face amount of mortgages	25,112
Carrying amount of mortgages	25,012
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 25,012
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	3
Recreation Property, Colorado
Mortgage Loans on Real Estate
Interest Rate	9.35%
Prior Liens	$ 0
Outstanding face amount of mortgages	30,396
Carrying amount of mortgages	30,682
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 30,682
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	1
Number of mortgage loans \| loan	3
Restaurant Properties, Florida, Kansas And Missouri
Mortgage Loans on Real Estate
Interest Rate	7.60%
Prior Liens	$ 0
Outstanding face amount of mortgages	9,862
Carrying amount of mortgages	9,797
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 9,797
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	13
Restaurant, Ohio
Mortgage Loans on Real Estate
Interest Rate	8.45%
Prior Liens	$ 0
Outstanding face amount of mortgages	2,991
Carrying amount of mortgages	2,986
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 2,986
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	3
Athletic Club Secured By Properties In Chicago, IL
Mortgage Loans on Real Estate
Interest Rate	7.60%
Prior Liens	$ 0
Outstanding face amount of mortgages	16,549
Carrying amount of mortgages	16,375
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 16,375
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	1
Leasehold interest in an amusement park in Ontario, Canada
Mortgage Loans on Real Estate
Interest Rate	9.89%
Prior Liens	$ 0
Outstanding face amount of mortgages	22,097
Carrying amount of mortgages	21,979
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 21,979
Recreation Property, Utah
Mortgage Loans on Real Estate
Interest Rate	9.25%
Prior Liens	$ 0
Outstanding face amount of mortgages	6,269
Carrying amount of mortgages	6,241
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 6,241
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	1
Five Family Entertainment Secured By Properties Located In Texas
Mortgage Loans on Real Estate
Interest Rate	8.11%
Prior Liens	$ 0
Outstanding face amount of mortgages	26,720
Carrying amount of mortgages	26,627
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 26,627
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	5
Family Entertainment Properties Secured By Properties Located In Texas
Mortgage Loans on Real Estate
Interest Rate	8.25%
Prior Liens	$ 0
Outstanding face amount of mortgages	4,531
Carrying amount of mortgages	4,509
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 4,509
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	1
Food Processing Properties Secured By Properties Located in Idaho, Tennessee, and Wisconsin
Mortgage Loans on Real Estate
Interest Rate	8%
Prior Liens	$ 0
Outstanding face amount of mortgages	27,890
Carrying amount of mortgages	27,787
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, end of year	$ 27,787
Mortgage Loans on Real Estate, Other Required Disclosures [Abstract]
Number of property locations of investments (in properties) \| property	3