10-Q Filing

ESSENTIAL PROPERTIES REALTY TRUST, INC. CIK: 1728951 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001564590-18-020575`
Period End Date	20180630
Filing Date	20180808
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	eprt-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 83 Cash Flow Statement 89 Stockholders Equity 15 Comprehensive Income 4

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Land and improvements	`LandAndImprovements`	$355.18M	USD	Point-in-time
Land and improvements	`LandAndImprovements`	$278.99M	USD	Point-in-time
Building and improvements	`BuildingAndImprovements`	$584.38M	USD	Point-in-time
Building and improvements	`BuildingAndImprovements`	$748.00M	USD	Point-in-time
Lease incentive	`LeaseIncentiveReceivable`	$2.27M	USD	Point-in-time
Lease incentive	`LeaseIncentiveReceivable`	$2.27M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$11.26M	USD	Point-in-time
Construction in progress	`ConstructionInProgressGross`	$4.08M	USD	Point-in-time
Intangible lease assets	`FiniteLivedIntangibleAssetsGrossExcludingRealEstateHeldForSale`	$62.45M	USD	Point-in-time
Intangible lease assets	`FiniteLivedIntangibleAssetsGrossExcludingRealEstateHeldForSale`	$64.31M	USD	Point-in-time
Common shares, par value per share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Total real estate investments, at cost	`RealEstateInvestmentsAtCost`	$932.17M	USD	Point-in-time
Total real estate investments, at cost	`RealEstateInvestmentsAtCost`	$1.18B	USD	Point-in-time
Less: accumulated depreciation and amortization	`RealEstateInvestmentPropertyAccumulatedDepreciationAndAmortization`	$36.31M	USD	Point-in-time
Less: accumulated depreciation and amortization	`RealEstateInvestmentPropertyAccumulatedDepreciationAndAmortization`	$24.82M	USD	Point-in-time
Common shares, authorized shares	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Less: accumulated depreciation and amortization	`RealEstateInvestmentPropertyAccumulatedDepreciationAndAmortization`	$14.86M	USD	Point-in-time
Total real estate investments, net	`RealEstateInvestmentsNet`	$1.14B	USD	Point-in-time
Total real estate investments, net	`RealEstateInvestmentsNet`	$907.35M	USD	Point-in-time
Common shares, issued shares	`CommonStockSharesIssued`	40.98M	shares	Point-in-time
Common shares, outstanding shares	`CommonStockSharesOutstanding`	40.98M	shares	Point-in-time
Loans and direct financing lease receivables, net	`LoansReceivableNet`	$2.73M	USD	Point-in-time
Loans and direct financing lease receivables, net	`LoansReceivableNet`	$6.32M	USD	Point-in-time
Real estate investments held for sale, net	`RealEstateInvestmentsHeldForSaleNet`	$4.17M	USD	Point-in-time
Preferred shares, par value per share	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Real estate investments held for sale, net	`RealEstateInvestmentsHeldForSaleNet`	$7.20M	USD	Point-in-time
Net investments	`NetInvestmentsInRealEstateRelatedAssets`	$663.03M	USD	Point-in-time
Net investments	`NetInvestmentsInRealEstateRelatedAssets`	$1.16B	USD	Point-in-time
Net investments	`NetInvestmentsInRealEstateRelatedAssets`	$914.25M	USD	Point-in-time
Preferred shares, authorized shares	`PreferredStockSharesAuthorized`	150.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.25M	USD	Point-in-time
Preferred shares, issued shares	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.39M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$6.72M	USD	Point-in-time
Preferred shares, outstanding shares	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCash`	$12.18M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$8.64M	USD	Point-in-time
Straight-line rent receivable, net	`StraightLineRentReceivableNet`	$9.02M	USD	Point-in-time
Straight-line rent receivable, net	`StraightLineRentReceivableNet`	$5.50M	USD	Point-in-time
Prepaid expenses and other assets, net	`PrepaidExpenseAndOtherAssets`	$3.04M	USD	Point-in-time
Prepaid expenses and other assets, net	`PrepaidExpenseAndOtherAssets`	$5.12M	USD	Point-in-time
Total assets	`Assets`	$942.22M	USD	Point-in-time
Total assets	`Assets`	$1.31B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.25M	USD	Point-in-time
Secured borrowings, net of deferred financing costs	`SecuredBorrowingsNetOfDeferredFinancingCosts`	$511.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.39M	USD	Point-in-time
Secured borrowings, net of deferred financing costs	`SecuredBorrowingsNetOfDeferredFinancingCosts`	$508.82M	USD	Point-in-time
Accrued liabilities and other payables	`AccruedLiabilitiesAndOtherLiabilities`	$6.74M	USD	Point-in-time
Accrued liabilities and other payables	`AccruedLiabilitiesAndOtherLiabilities`	$6.72M	USD	Point-in-time
Notes payable to related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	$230.00M	USD	Point-in-time
Notes payable to related party	`NotesPayableRelatedPartiesCurrentAndNoncurrent`	-	USD	Point-in-time
Intangible lease liabilities, net	`BelowMarketLeaseNet`	$12.32M	USD	Point-in-time
Intangible lease liabilities, net	`BelowMarketLeaseNet`	$12.15M	USD	Point-in-time
Intangible lease liabilities held for sale, net	`IntangibleLeaseLiabilitiesHeldForSaleNet`	$129.00K	USD	Point-in-time
Intangible lease liabilities held for sale, net	`IntangibleLeaseLiabilitiesHeldForSaleNet`	$256.00K	USD	Point-in-time
Accrued liabilities and other payables (including $324 due to a related party as of December 31, 2017)	`AccruedLiabilitiesAndOtherLiabilities`	$6.74M	USD	Point-in-time
Accrued liabilities and other payables (including $324 due to a related party as of December 31, 2017)	`AccruedLiabilitiesAndOtherLiabilities`	$6.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$760.82M	USD	Point-in-time
Total liabilities	`Liabilities`	$527.97M	USD	Point-in-time
Commitments and contingencies (see Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (see Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value; 150,000,000 authorized; none issued and outstanding as of June 30, 2018	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value; 150,000,000 authorized; none issued and outstanding as of June 30, 2018	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 500,000,000 authorized; 40,976,901 issued and outstanding as of June 30, 2018	`CommonStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value; 500,000,000 authorized; 40,976,901 issued and outstanding as of June 30, 2018	`CommonStockValue`	$403.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$531.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$222.00K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	-	USD	Point-in-time
Total stockholders'/members' equity	`MembersEquity`	$181.40M	USD	Point-in-time
Total stockholders'/members' equity	`MembersEquity`	$532.21M	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	-	USD	Point-in-time
Non-controlling interests	`MinorityInterest`	$252.23M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$181.40M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$784.44M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$1.31B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$942.22M	USD	Point-in-time

Income Statement 83 line items

Line Item	Tag	Value	Unit	Period
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$41.62M	USD	2 Qtrs
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$21.55M	USD	1 Quarter
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$22.68M	USD	2 Qtrs
Rental revenue	`OperatingLeasesIncomeStatementLeaseRevenue`	$12.67M	USD	1 Quarter
Interest income on loans and direct financing lease receivables	`InterestIncomeOnLoansAndDirectFinancingLeaseReceivables`	$165.00K	USD	2 Qtrs
Interest income on loans and direct financing lease receivables	`InterestIncomeOnLoansAndDirectFinancingLeaseReceivables`	$82.00K	USD	1 Quarter
Interest income on loans and direct financing lease receivables	`InterestIncomeOnLoansAndDirectFinancingLeaseReceivables`	$89.00K	USD	1 Quarter
Interest income on loans and direct financing lease receivables	`InterestIncomeOnLoansAndDirectFinancingLeaseReceivables`	$159.00K	USD	2 Qtrs
Other revenue	`OtherIncome`	$56.00K	USD	1 Quarter
Other revenue	`OtherIncome`	$571.00K	USD	2 Qtrs
Other revenue	`OtherIncome`	$113.00K	USD	2 Qtrs
Other revenue	`OtherIncome`	$565.00K	USD	1 Quarter
Total revenues	`Revenues`	$21.69M	USD	1 Quarter
Total revenues	`Revenues`	$23.41M	USD	2 Qtrs
Total revenues	`Revenues`	$13.32M	USD	1 Quarter
Total revenues	`Revenues`	$41.90M	USD	2 Qtrs
Interest (including $2,524, $1,713, $4,603 and $1,923 to related parties during the three and six months ended June 30, 2018 and 2017, respectively)	`InterestExpense`	$16.91M	USD	2 Qtrs
Interest (including $2,524, $1,713, $4,603 and $1,923 to related parties during the three and six months ended June 30, 2018 and 2017, respectively)	`InterestExpense`	$5.16M	USD	1 Quarter
Interest (including $2,524, $1,713, $4,603 and $1,923 to related parties during the three and six months ended June 30, 2018 and 2017, respectively)	`InterestExpense`	$8.63M	USD	1 Quarter
Interest (including $2,524, $1,713, $4,603 and $1,923 to related parties during the three and six months ended June 30, 2018 and 2017, respectively)	`InterestExpense`	$8.88M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.33M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.99M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.34M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$4.28M	USD	2 Qtrs
Property expenses	`CostOfPropertyRepairsAndMaintenance`	$689.00K	USD	2 Qtrs
Property expenses	`CostOfPropertyRepairsAndMaintenance`	$380.00K	USD	1 Quarter
Property expenses	`CostOfPropertyRepairsAndMaintenance`	$727.00K	USD	2 Qtrs
Property expenses	`CostOfPropertyRepairsAndMaintenance`	$479.00K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$14.08M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$7.61M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.09M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.30M	USD	1 Quarter
Provision for impairment of real estate	`AssetImpairmentCharges`	$579.00K	USD	2 Qtrs
Provision for impairment of real estate	`AssetImpairmentCharges`	$907.00K	USD	1 Quarter
Provision for impairment of real estate	`AssetImpairmentCharges`	$2.76M	USD	2 Qtrs
Provision for impairment of real estate	`AssetImpairmentCharges`	$428.00K	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$22.50M	USD	2 Qtrs
Total expenses	`CostsAndExpenses`	$12.70M	USD	1 Quarter
Total expenses	`CostsAndExpenses`	$40.82M	USD	2 Qtrs
Total expenses	`CostsAndExpenses`	$20.52M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.08M	USD	2 Qtrs
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$614.00K	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$1.17M	USD	1 Quarter
Income before income tax expense	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$909.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$35.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$117.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$42.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$87.00K	USD	1 Quarter
Income before gain on dispositions of real estate	`IncomeLossBeforeGainOnDispositionsOfRealEstate`	$579.00K	USD	1 Quarter
Income before gain on dispositions of real estate	`IncomeLossBeforeGainOnDispositionsOfRealEstate`	$962.00K	USD	2 Qtrs
Income before gain on dispositions of real estate	`IncomeLossBeforeGainOnDispositionsOfRealEstate`	$867.00K	USD	2 Qtrs
Income before gain on dispositions of real estate	`IncomeLossBeforeGainOnDispositionsOfRealEstate`	$1.09M	USD	1 Quarter
Gain on dispositions of real estate, net	`GainsLossesOnSalesOfInvestmentRealEstate`	$1.76M	USD	2 Qtrs
Gain on dispositions of real estate, net	`GainsLossesOnSalesOfInvestmentRealEstate`	$3.65M	USD	2 Qtrs
Gain on dispositions of real estate, net	`GainsLossesOnSalesOfInvestmentRealEstate`	$2.41M	USD	1 Quarter
Gain on dispositions of real estate, net	`GainsLossesOnSalesOfInvestmentRealEstate`	$1.47M	USD	1 Quarter
Net income	`ProfitLoss`	$4.61M	USD	2 Qtrs
Net income	`ProfitLoss`	$2.63M	USD	2 Qtrs
Net income	`ProfitLoss`	$321.00K	USD	Point-in-time
Net income	`ProfitLoss`	$3.50M	USD	1 Quarter
Net income	`ProfitLoss`	$2.05M	USD	1 Quarter
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$99.00K	USD	2 Qtrs
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$99.00K	USD	1 Quarter
Net income attributable to non-controlling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$-99.00K	USD	Point-in-time
Net income attributable to stockholders and members	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.63M	USD	2 Qtrs
Net income attributable to stockholders and members	`NetIncomeLossAvailableToCommonStockholdersBasic`	$2.05M	USD	1 Quarter
Net income attributable to stockholders and members	`NetIncomeLossAvailableToCommonStockholdersBasic`	$3.40M	USD	1 Quarter
Net income attributable to stockholders and members	`NetIncomeLossAvailableToCommonStockholdersBasic`	$223.00K	USD	Point-in-time
Net income attributable to stockholders and members	`NetIncomeLossAvailableToCommonStockholdersBasic`	$4.51M	USD	2 Qtrs
Comprehensive income attributable to stockholders and members	`ComprehensiveIncomeNetOfTax`	$3.40M	USD	1 Quarter
Comprehensive income attributable to stockholders and members	`ComprehensiveIncomeNetOfTax`	$4.51M	USD	2 Qtrs
Comprehensive income attributable to stockholders and members	`ComprehensiveIncomeNetOfTax`	$2.05M	USD	1 Quarter
Comprehensive income attributable to stockholders and members	`ComprehensiveIncomeNetOfTax`	$2.63M	USD	2 Qtrs
Basic weighted-average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.98M	shares	2 Qtrs
Basic weighted-average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.98M	shares	Point-in-time
Basic weighted-average shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	40.98M	shares	1 Quarter
Basic net income per share	`EarningsPerShareBasic`	$0.01	USD	2 Qtrs
Basic net income per share	`EarningsPerShareBasic`	$0.01	USD	1 Quarter
Diluted weighted-average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.03M	shares	Point-in-time
Diluted weighted-average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.03M	shares	1 Quarter
Diluted weighted-average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.03M	shares	2 Qtrs
Diluted net income per share	`EarningsPerShareDiluted`	$0.01	USD	1 Quarter
Diluted net income per share	`EarningsPerShareDiluted`	$0.01	USD	2 Qtrs

Cash Flow Statement 89 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$4.61M	USD	2 Qtrs
Net income	`ProfitLoss`	$2.63M	USD	2 Qtrs
Net income	`ProfitLoss`	$321.00K	USD	Point-in-time
Net income	`ProfitLoss`	$3.50M	USD	1 Quarter
Net income	`ProfitLoss`	$2.05M	USD	1 Quarter
Depreciation and lease intangible amortization	`DepreciationAndLeaseIntangibleAmortization`	$14.08M	USD	2 Qtrs
Depreciation and lease intangible amortization	`DepreciationAndLeaseIntangibleAmortization`	$8.09M	USD	2 Qtrs
Amortization of lease incentive	`AmortizationOfLeaseIncentives`	$67.00K	USD	2 Qtrs
Amortization of lease incentive	`AmortizationOfLeaseIncentives`	$77.00K	USD	2 Qtrs
Amortization of above/below market leases	`AmortizationOfAboveAndBelowMarketLeases`	$144.00K	USD	2 Qtrs
Amortization of above/below market leases	`AmortizationOfAboveAndBelowMarketLeases`	$130.00K	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$1.17M	USD	2 Qtrs
Amortization of deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$758.00K	USD	2 Qtrs
Provision for impairment of real estate	`AssetImpairmentCharges`	$579.00K	USD	2 Qtrs
Provision for impairment of real estate	`AssetImpairmentCharges`	$907.00K	USD	1 Quarter
Provision for impairment of real estate	`AssetImpairmentCharges`	$2.76M	USD	2 Qtrs
Provision for impairment of real estate	`AssetImpairmentCharges`	$428.00K	USD	1 Quarter
Gain on dispositions of investments, net	`GainLossOnSaleOfInvestments`	$3.65M	USD	2 Qtrs
Gain on dispositions of investments, net	`GainLossOnSaleOfInvestments`	$1.76M	USD	2 Qtrs
Straight-line rent receivable	`StraightLineRent`	$3.52M	USD	2 Qtrs
Straight-line rent receivable	`StraightLineRent`	$1.96M	USD	2 Qtrs
Equity-based compensation expense	`EquityBasedCompensation`	$399.00K	USD	2 Qtrs
Equity-based compensation expense	`EquityBasedCompensation`	$347.00K	USD	2 Qtrs
Allowance for doubtful accounts	`ProvisionForDoubtfulAccounts`	$130.00K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-1.02M	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$63.00K	USD	2 Qtrs
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$-3.57M	USD	2 Qtrs
Accrued liabilities and other payables	`IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities`	$831.00K	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$13.57M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$9.71M	USD	2 Qtrs
Proceeds from sales of investments, net	`ProceedsFromSaleOfRealEstateHeldforinvestment`	$21.50M	USD	2 Qtrs
Proceeds from sales of investments, net	`ProceedsFromSaleOfRealEstateHeldforinvestment`	$16.34M	USD	2 Qtrs
Principal collections on direct financing lease receivables	`ProceedsFromCollectionOfLeaseReceivables`	$44.00K	USD	2 Qtrs
Principal collections on direct financing lease receivables	`ProceedsFromCollectionOfLeaseReceivables`	$35.00K	USD	2 Qtrs
Investments in loans receivable	`PaymentsToAcquireLoansReceivable`	$3.63M	USD	2 Qtrs
Deposits for prospective real estate investments	`PaymentsForProceedsFromDepositsOnRealEstateAcquisitions`	$125.00K	USD	2 Qtrs
Deposits for prospective real estate investments	`PaymentsForProceedsFromDepositsOnRealEstateAcquisitions`	$-285.00K	USD	2 Qtrs
Investment in real estate	`PaymentsToAcquireRealEstateHeldForInvestment`	$266.25M	USD	2 Qtrs
Investment in real estate	`PaymentsToAcquireRealEstateHeldForInvestment`	$216.44M	USD	2 Qtrs
Investment in construction in progress	`PaymentsForInvestmentInConstructionInProgress`	$1.69M	USD	2 Qtrs
Investment in construction in progress	`PaymentsForInvestmentInConstructionInProgress`	$8.75M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$328.00K	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$48.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-201.92M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-257.14M	USD	2 Qtrs
Proceeds from issuance of notes payable to related parties	`ProceedsFromNotesPayableToRelatedParties`	$154.00M	USD	2 Qtrs
Proceeds from issuance of notes payable to related parties	`ProceedsFromNotesPayableToRelatedParties`	$313.00M	USD	2 Qtrs
Payments of principal on notes payable to related party	`RepaymentsOfNotesPayableToRelatedParties`	$384.00M	USD	2 Qtrs
Payments of principal on notes payable to related party	`RepaymentsOfNotesPayableToRelatedParties`	$103.00M	USD	2 Qtrs
Repayments of secured borrowings	`RepaymentsOfSecuredDebt`	$1.93M	USD	2 Qtrs
Repayments of secured borrowings	`RepaymentsOfSecuredDebt`	$3.96M	USD	2 Qtrs
Deferred financing costs	`PaymentsForProceedsFromDebtIssuanceCostsAndRefunds`	$3.28M	USD	2 Qtrs
Deferred financing costs	`PaymentsForProceedsFromDebtIssuanceCostsAndRefunds`	$-251.00K	USD	2 Qtrs
Capital contributions by members in Predecessor	`ContributionsFromMembersInPredecessor`	$83.70M	USD	2 Qtrs
Capital contributions by members in Predecessor	`ContributionsFromMembersInPredecessor`	$50.00M	USD	2 Qtrs
Distributions paid to members by Predecessor	`DistributionsToMembersByPredecessor`	$101.22M	USD	2 Qtrs
Proceeds from initial public offering, net	`ProceedsFromIssuanceInitialPublicOffering`	$427.70M	USD	2 Qtrs
Initial public offering costs	`PaymentsOfStockIssuanceCosts`	$1.29M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$364.17M	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$190.80M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$120.60M	USD	2 Qtrs
Net increase (decrease) in cash and cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-1.41M	USD	2 Qtrs
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.51M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$140.03M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.43M	USD	Point-in-time
Cash and cash equivalents and restricted cash, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.92M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.51M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$140.03M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.43M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.25M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$131.39M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$6.72M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$12.18M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$8.64M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.51M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$140.03M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.43M	USD	Point-in-time
Cash and cash equivalents and restricted cash, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.92M	USD	Point-in-time
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$16.26M	USD	2 Qtrs
Cash paid for interest, net of amounts capitalized	`InterestPaidNet`	$7.86M	USD	2 Qtrs
Reclassification from construction in progress upon project completion	`ReclassificationFromConstructionInProgressUponProjectCompletion`	$1.57M	USD	2 Qtrs
Non-cash equity contributions	`NonCashEquityContributions`	$17.31M	USD	2 Qtrs
Real estate investments acquired through direct equity investment	`NoncashOrPartNoncashAcquisitionInvestmentsAcquired1`	$17.31M	USD	2 Qtrs
Contribution of Predecessor equity in exchange for OP Units	`NoncashContributionOfPredecessorEquityInExchangeForOperatingPartnershipUnits`	$236.13M	USD	2 Qtrs
Payable and accrued initial public offering costs	`NoncashPayableAndAccruedInitialPublicOfferingCosts`	$3.47M	USD	2 Qtrs
Underwriters discount on capital raised through initial public offering	`UnderwritersDiscountOnCapitalRaisedThroughInitialPublicOffering`	$27.30M	USD	2 Qtrs
Payable and accrued deferred financing costs	`NoncashPayableAndAccruedDeferredFinancingCosts`	$261.00K	USD	2 Qtrs

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$181.40M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$784.44M	USD	Point-in-time
Initial public offering	`StockIssuedDuringPeriodValueNewIssues`	$455.00M	USD	Point-in-time
Concurrent private placement of common stock	`PrivatePlacement`	$109.00M	USD	Point-in-time
Concurrent private placement of OP Units	`ConcurrentPrivatePlacementOfOPUnits`	$16.00M	USD	Point-in-time
Costs related to initial public offering	`AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts`	$32.05M	USD	Point-in-time
Share-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$46.00K	USD	Point-in-time
Net income	`ProfitLoss`	$4.61M	USD	2 Qtrs
Net income	`ProfitLoss`	$2.63M	USD	2 Qtrs
Net income	`ProfitLoss`	$321.00K	USD	Point-in-time
Net income	`ProfitLoss`	$3.50M	USD	1 Quarter
Net income	`ProfitLoss`	$2.05M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$181.40M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$784.44M	USD	Point-in-time
Balance, shares	`CommonStockSharesOutstanding`	40.98M	shares	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Interest expense related parties	`InterestExpenseRelatedParty`	$4.60M	USD	2 Qtrs
Interest expense related parties	`InterestExpenseRelatedParty`	$2.52M	USD	1 Quarter
Interest expense related parties	`InterestExpenseRelatedParty`	$1.92M	USD	2 Qtrs
Interest expense related parties	`InterestExpenseRelatedParty`	$1.71M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.