Subsequent Events |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subsequent Events [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subsequent Events |
Subsequent Events
Distributions
On January 14, 2020, our Board of Directors declared the following monthly distributions for the months of January, February, and March of 2020:
Equity Activity
Subsequent to December 31, 2019 and through February 12, 2020, we raised $27.9 million in net proceeds from the sale of 1.3 million shares of Common Stock under our Common Stock ATM Program. We made no sales under our Series E Preferred ATM Program subsequent to December 31, 2019 and through February 12, 2020.
Acquisition Activity
On January 8, 2020, we purchased a 64,800 square foot industrial property in Indianapolis, Indiana for $5.3 million. This property is fully leased to three tenants with a weighted average lease term of 7.2 years.
On January 27, 2020, we purchased a 320,838 square foot, three building industrial portfolio with a location in Houston, Texas; Charlotte, North Carolina; and St. Charles, Missouri for $34.7 million. This industrial portfolio is fully leased to one tenant on a 20 year lease term.
Leasing Activity
On January 9, 2020, a tenant in one of our Springfield, Missouri properties renewed their lease for an additional five years, with a new maturity date of May 31, 2026.
On January 23, 2020, the tenant in our Englewood, Colorado property renewed their lease for an additional five years, with a new maturity date of December 31, 2026
Financing Activity
On January 27, 2020, we issued an aggregate of $18.3 million of fixed rate debt in connection with the three property industrial portfolio acquired on this same date. The maturity date is February 1, 2030 and the interest rate is 3.625%
Universal Shelf Registration Statement
On January 29, 2020, we filed a universal registration statement on Form S-3, File No. 333-236143 (the “2020 Universal Shelf”). Upon its effectiveness, the 2020 Universal Shelf will allow us to issue up to $800.0 million of securities.
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