Annual report pursuant to Section 13 and 15(d)

Subsequent Events

v3.20.4
Subsequent Events
 12 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Distributions

On January 12, 2021, our Board of Directors declared the following monthly distributions for the months of January, February, and March of 2021:

Record Date Payment Date Common Stock and Non-controlling OP Unit Distributions per Share Series D Preferred Distributions per Share Series E Preferred Distributions per Share
January 22, 2021 January 29, 2021 $ 0.12515  $ 0.1458333  $ 0.138021 
February 17, 2021 February 26, 2021 0.12515  0.1458333  0.138021 
March 18, 2021 March 31, 2021 0.12515  0.1458333  0.138021 
$ 0.37545  $ 0.4374999  $ 0.414063 

Series F Preferred Stock Distributions
Record Date Payment Date Distribution per Share
January 27, 2021 February 5, 2021 $ 0.125 
February 24, 2021 March 5, 2021 0.125 
March 24, 2021 April 5, 2021 0.125 
$ 0.375 

Senior Common Stock Distributions
Payable to the Holders of Record During the Month of: Payment Date Distribution per Share
January February 5, 2021 $ 0.0875 
February March 5, 2021 0.0875 
March April 5, 2021 0.0875 
$ 0.2625 

Equity Activity

Subsequent to December 31, 2020 and through February 16, 2021, we raised $6.8 million in net proceeds from the sale of 0.4 million shares of common stock under our Common Stock ATM Program and $0.03 million in net proceeds from the sale of 1,200 sales of Series F Preferred Stock. We made no sales under our Series E Preferred ATM Program subsequent to December 31, 2020 and through February 16, 2021.

Acquisition Activity

On January 22, 2021, we purchased a 180,152 square foot industrial property in Findlay, Ohio for $11.1 million. This property is fully leased to one tenant on a 14.2 year lease.
Financing Activity

On January 22, 2021, we issued $5.5 million of floating rate debt swapped to a fixed rate of 3.24% in connection with the industrial property acquisition on the same date, with a maturity date of February 15, 2031.

On February 11, 2021, we added a new $65.0 million term loan component to our Credit Facility, inclusive of a $15.0 million delayed funding component. The New Term Loan has a maturity date of 60 months from the closing of the amended Credit Facility and a London Inter-bank Offered Rate floor of 25 basis points.