( 2 ) approximate square feet . the following table summarizes the diversification of the property portfolio based on the top 10 lines of trade : replace_table_token_10_th ( 1 ) based on annualized base rent for all leases in place as of december 31 of the respective year . 22 the following table summarizes the diversification of the property portfolio by state as of december 31 , 2015 : replace_table_token_11_th ( 1 ) based on annualized base rent for all leases in place as of december 31 , 2015 . property acquisitions . the following table summarizes the property acquisitions for each of the years ended december 31 ( dollars in thousands ) : replace_table_token_12_th ( 1 ) includes dollars invested in projects under construction or tenant improvements for each respective year . nnn typically funds property acquisitions either through borrowings under nnn 's unsecured revolving credit facility ( the `` credit facility `` ) or by issuing its debt or equity securities in the capital markets . property dispositions . the following table summarizes the properties sold by nnn for each of the years ended december 31 ( dollars in thousands ) : replace_table_token_13_th ( 1 ) amounts include deferred gains on previously sold properties . nnn typically uses the proceeds from a property disposition to either pay down the credit facility or reinvest in real estate . 23 analysis of revenue from continuing operations general . during the year ended december 31 , 2015 , nnn 's rental income increased primarily due to the increase in rental income from property acquisitions ( see `` results of operations – property analysis – property acquisitions `` ) . nnn anticipates increases in rental income will continue to come from additional property acquisitions and increases in rents pursuant to existing lease terms . the following summarizes nnn 's revenues from continuing operations ( dollars in thousands ) : replace_table_token_14_th ( 1 ) includes rental income from operating leases , earned income from direct financing leases and percentage rent from continuing operations ( `` rental income `` ) . comparison of revenues from continuing operations – 2015 versus 2014 rental income . rental income increased in amount and as a percent of the total revenues from continuing operations for the year ended december 31 , 2015 as compared to the same period in 2014. the increase for the year ended december 31 , 2015 , is primarily due to a partial year of rental income received as a result of the acquisition of 221 properties with aggregate gross leasable area of approximately 2,706,000 during 2015 and a full year of rental income received as a result of the acquisition of 221 properties with a gross leasable area of approximately 2,417,000 square feet in 2014. during the year ended december 31 , 2015 , nnn recorded $ 1,950,000 of rental revenue from a settlement with a prior tenant . real estate expense reimbursement from tenants . real estate expense reimbursements from tenants increased for the year ended december 31 , 2015 , as compared to the same period in 2014 , but decreased as a percentage of total revenues from continuing operations for the same period . the increase is primarily attributable to a full year of reimbursements from properties acquired in 2014 and a partial year of reimbursements from certain newly acquired properties in 2015. comparison of revenues from continuing operations – 2014 versus 2013 rental income . rental income increased in amount and as a percent of the total revenues from continuing operations for the year ended december 31 , 2014 as compared to the same period in 2013. the increase for the year ended december 31 , 2014 , is primarily due to a partial year of rental income received as a result of the acquisition of 221 properties with aggregate gross leasable area of approximately 2,417,000 during 2014 and a full year of rental income received as a result of the acquisition of 275 properties with a gross leasable area of approximately 1,652,000 square feet in 2013. in addition , the increase was partially offset by a $ 613,000 decrease in lease termination fees for the year ended december 31 , 2014 , as compared to december 31 , 2013. real estate expense reimbursement from tenants . real estate expense reimbursements from tenants increased for the year ended december 31 , 2014 , as compared to the same period in 2013 , but decreased as a percentage of total revenues from continuing operations for the same period . the increase is primarily attributable to a full year of reimbursements from properties acquired in 2013 and a partial year of reimbursements from certain newly acquired properties in 2014 . 24 analysis of expenses from continuing operations general . operating expenses from continuing operations increased primarily due to an increase in depreciation expense and an increase in impairments during the year ended december 31 , 2015 , as compared to the same period in 2014. the following summarizes nnn 's expenses from continuing operations ( dollars in thousands ) : replace_table_token_15_th replace_table_token_16_th comparison of expenses from continuing operations – 2015 versus 2014 general and administrative expenses . general and administrative expenses increased for the year ended december 31 , 2015 , as compared to the same period in 2014 , but decreased both as a percentage of total operating expenses and as a percentage of revenues from continuing operations . the increase in general and administrative expenses for the year ended december 31 , 2015 , is primarily attributable to an increase in incentive compensation . real estate . story_separator_special_tag nnn generally utilizes debt and equity security offerings , bank borrowings , proceeds from the disposition of certain properties , and to a lesser extent , internally generated funds to meet its capital needs . nnn typically funds its short-term liquidity requirements , including investments in additional properties , with cash from its credit facility . as of december 31 , 2015 , there was no outstanding balance and $ 650,000,000 was available for future borrowings under the credit facility . as of december 31 , 2015 , nnn 's ratio of total debt to total gross assets ( before accumulated depreciation and amortization ) was approximately 33 percent and the ratio of secured indebtedness to total gross assets was less than one percent . the ratio of total debt to total market capitalization was approximately 25 percent . certain financial agreements to which nnn is a party contain covenants that limit nnn 's ability to incur additional debt under certain circumstances . the organizational documents of nnn do not limit the absolute amount or percentage of indebtedness that nnn may incur . additionally , nnn may change its financing strategy . 28 contractual obligations and commercial commitments . the information in the following table summarizes nnn 's contractual obligations and commercial commitments outstanding as of december 31 , 2015 . the table presents principal cash flows by year-end of the expected maturity for debt obligations and commercial commitments outstanding as of december 31 , 2015 . replace_table_token_18_th ( 1 ) includes only principal amounts outstanding under mortgages payable and notes payable and excludes unamortized mortgage premiums and note discounts and note costs . ( 2 ) excludes $ 20,113 of accrued interest payable . in addition to the contractual obligations outlined above , nnn has committed to fund construction commitments on leased properties . the improvements are estimated to be completed within 12 months . these construction commitments , at december 31 , 2015 , are outlined in the table below ( dollars in thousands ) : number of properties 27 total commitment ( 1 ) $ 116,394 amount funded $ 87,406 remaining commitment $ 28,988 ( 1 ) includes land , construction costs , tenant improvements and lease costs . as of december 31 , 2015 , nnn did not have any other material contractual cash obligations , such as purchase obligations , financing lease obligations or other long-term liabilities other than those reflected in the table . in addition to items reflected in the table , nnn has issued preferred stock with cumulative preferential cash distributions , as described below under “ dividends . ” management anticipates satisfying these obligations with a combination of nnn 's cash provided from operations , current capital resources on hand , its credit facility , debt or equity financings and asset dispositions . generally the properties are leased under long-term net leases . therefore , management anticipates that capital demands to meet obligations with respect to these properties will be modest for the foreseeable future and can be met with funds from operations and working capital . certain of the properties are subject to leases under which nnn retains responsibility for specific costs and expenses associated with the property . management anticipates the costs associated with the vacant properties or those properties that become vacant will also be met with funds from operations and working capital . nnn may be required to borrow under its credit facility or use other sources of capital in the event of significant capital expenditures . the lost revenues and increased property expenses resulting from vacant properties or uncollectibility of lease revenues could have a material adverse effect on the liquidity and results of operations if nnn is unable to release the properties at comparable rental rates and in a timely manner . as of december 31 , 2015 , nnn owned 21 vacant , un-leased properties which accounted for approximately one percent of total properties . additionally , as of january 31 , 2016 , less than one percent of the total gross leasable area of the property portfolio was leased to tenants that have filed a voluntary petition for bankruptcy under chapter 11 of the u.s. bankruptcy code . as a result , these tenants have the right to reject or affirm their leases with nnn . dividends . nnn has made an election to be taxed as a reit under sections 856 through 860 of the code , as amended , and related regulations and intends to continue to operate so as to remain qualified as a reit for federal income tax purposes . nnn generally will not be subject to federal income tax on income that it distributes to its stockholders , provided that it distributes 100 percent of its reit taxable income and meets certain other requirements for qualifying as a reit . if nnn fails to qualify as a reit in any taxable year , it will be subject to federal income tax on its taxable income at regular corporate rates and will not be permitted to qualify for treatment as a reit for federal income tax purposes for the four years following the year during which qualification is lost . such an event could materially adversely affect nnn 's income and ability to pay dividends . one of nnn 's primary objectives , consistent with its policy of retaining sufficient cash for reserves and working capital purposes and maintaining its status as a reit , is to distribute a substantial portion of its funds available from operations to its stockholders in the form of dividends . 29 the following table outlines the dividends declared and paid for nnn 's common stock for the years ended december 31 ( dollars in thousands , except per share data ) : replace_table_token_19_th the following presents the characterizations for tax purposes of such common stock dividends for the years ended december 31 : replace_table_token_20_th on january 15 , 2016 , nnn declared a

debt the following is a summary of nnn 's total outstanding debt as of december 31 ( dollars in thousands ) : replace_table_token_23_th indebtedness . nnn expects to use indebtedness primarily for property acquisitions and development of single-tenant retail properties , either directly or through investment interests , and mortgages and notes receivable . additionally , indebtedness may be used to refinance existing indebtedness . line of credit payable . in october 2014 , nnn amended and restated its credit agreement increasing the borrowing capacity under its unsecured revolving credit facility from $ 500,000,000 to $ 650,000,000 and amended certain other terms under the former revolving credit facility ( as the context requires , the previous and new revolving credit facility , the “ credit facility ” ) . the credit facility had a weighted average outstanding balance of $ 78,682,000 and a weighted average interest rate of 1.1 % for the year ended december 31 , 2015 . the credit facility matures january 2019 , with an option to extend maturity to january 2020 . as of december 31 , 2015 , the credit facility bears interest at libor plus 92.5 basis points ; however , such interest rate may change pursuant to a tiered interest rate structure based on nnn 's debt rating . the credit facility also includes an accordion feature to increase the facility size up to $ 1,000,000,000 . as of december 31 , 2015 , there was no outstanding balance and $ 650,000,000 was available for future borrowings under the credit facility . in accordance with the terms of the credit facility , nnn is required to meet certain restrictive financial covenants , which , among other things , require nnn to maintain certain ( i ) leverage ratios , ( ii ) debt service coverage , ( iii ) cash flow coverage , and ( iv ) investment limitations . at december 31 , 2015 , nnn was in compliance with those covenants .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```debt the following is a summary of nnn 's total outstanding debt as of december 31 ( dollars in thousands ) : replace_table_token_23_th indebtedness . nnn expects to use indebtedness primarily for property acquisitions and development of single-tenant retail properties , either directly or through investment interests , and mortgages and notes receivable . additionally , indebtedness may be used to refinance existing indebtedness . line of credit payable . in october 2014 , nnn amended and restated its credit agreement increasing the borrowing capacity under its unsecured revolving credit facility from $ 500,000,000 to $ 650,000,000 and amended certain other terms under the former revolving credit facility ( as the context requires , the previous and new revolving credit facility , the “ credit facility ” ) . the credit facility had a weighted average outstanding balance of $ 78,682,000 and a weighted average interest rate of 1.1 % for the year ended december 31 , 2015 . the credit facility matures january 2019 , with an option to extend maturity to january 2020 . as of december 31 , 2015 , the credit facility bears interest at libor plus 92.5 basis points ; however , such interest rate may change pursuant to a tiered interest rate structure based on nnn 's debt rating . the credit facility also includes an accordion feature to increase the facility size up to $ 1,000,000,000 . as of december 31 , 2015 , there was no outstanding balance and $ 650,000,000 was available for future borrowings under the credit facility . in accordance with the terms of the credit facility , nnn is required to meet certain restrictive financial covenants , which , among other things , require nnn to maintain certain ( i ) leverage ratios , ( ii ) debt service coverage , ( iii ) cash flow coverage , and ( iv ) investment limitations . at december 31 , 2015 , nnn was in compliance with those covenants .
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 Suspicious Activity Report : ( 2 ) approximate square feet . the following table summarizes the diversification of the property portfolio based on the top 10 lines of trade : replace_table_token_10_th ( 1 ) based on annualized base rent for all leases in place as of december 31 of the respective year . 22 the following table summarizes the diversification of the property portfolio by state as of december 31 , 2015 : replace_table_token_11_th ( 1 ) based on annualized base rent for all leases in place as of december 31 , 2015 . property acquisitions . the following table summarizes the property acquisitions for each of the years ended december 31 ( dollars in thousands ) : replace_table_token_12_th ( 1 ) includes dollars invested in projects under construction or tenant improvements for each respective year . nnn typically funds property acquisitions either through borrowings under nnn 's unsecured revolving credit facility ( the `` credit facility `` ) or by issuing its debt or equity securities in the capital markets . property dispositions . the following table summarizes the properties sold by nnn for each of the years ended december 31 ( dollars in thousands ) : replace_table_token_13_th ( 1 ) amounts include deferred gains on previously sold properties . nnn typically uses the proceeds from a property disposition to either pay down the credit facility or reinvest in real estate . 23 analysis of revenue from continuing operations general . during the year ended december 31 , 2015 , nnn 's rental income increased primarily due to the increase in rental income from property acquisitions ( see `` results of operations – property analysis – property acquisitions `` ) . nnn anticipates increases in rental income will continue to come from additional property acquisitions and increases in rents pursuant to existing lease terms . the following summarizes nnn 's revenues from continuing operations ( dollars in thousands ) : replace_table_token_14_th ( 1 ) includes rental income from operating leases , earned income from direct financing leases and percentage rent from continuing operations ( `` rental income `` ) . comparison of revenues from continuing operations – 2015 versus 2014 rental income . rental income increased in amount and as a percent of the total revenues from continuing operations for the year ended december 31 , 2015 as compared to the same period in 2014. the increase for the year ended december 31 , 2015 , is primarily due to a partial year of rental income received as a result of the acquisition of 221 properties with aggregate gross leasable area of approximately 2,706,000 during 2015 and a full year of rental income received as a result of the acquisition of 221 properties with a gross leasable area of approximately 2,417,000 square feet in 2014. during the year ended december 31 , 2015 , nnn recorded $ 1,950,000 of rental revenue from a settlement with a prior tenant . real estate expense reimbursement from tenants . real estate expense reimbursements from tenants increased for the year ended december 31 , 2015 , as compared to the same period in 2014 , but decreased as a percentage of total revenues from continuing operations for the same period . the increase is primarily attributable to a full year of reimbursements from properties acquired in 2014 and a partial year of reimbursements from certain newly acquired properties in 2015. comparison of revenues from continuing operations – 2014 versus 2013 rental income . rental income increased in amount and as a percent of the total revenues from continuing operations for the year ended december 31 , 2014 as compared to the same period in 2013. the increase for the year ended december 31 , 2014 , is primarily due to a partial year of rental income received as a result of the acquisition of 221 properties with aggregate gross leasable area of approximately 2,417,000 during 2014 and a full year of rental income received as a result of the acquisition of 275 properties with a gross leasable area of approximately 1,652,000 square feet in 2013. in addition , the increase was partially offset by a $ 613,000 decrease in lease termination fees for the year ended december 31 , 2014 , as compared to december 31 , 2013. real estate expense reimbursement from tenants . real estate expense reimbursements from tenants increased for the year ended december 31 , 2014 , as compared to the same period in 2013 , but decreased as a percentage of total revenues from continuing operations for the same period . the increase is primarily attributable to a full year of reimbursements from properties acquired in 2013 and a partial year of reimbursements from certain newly acquired properties in 2014 . 24 analysis of expenses from continuing operations general . operating expenses from continuing operations increased primarily due to an increase in depreciation expense and an increase in impairments during the year ended december 31 , 2015 , as compared to the same period in 2014. the following summarizes nnn 's expenses from continuing operations ( dollars in thousands ) : replace_table_token_15_th replace_table_token_16_th comparison of expenses from continuing operations – 2015 versus 2014 general and administrative expenses . general and administrative expenses increased for the year ended december 31 , 2015 , as compared to the same period in 2014 , but decreased both as a percentage of total operating expenses and as a percentage of revenues from continuing operations . the increase in general and administrative expenses for the year ended december 31 , 2015 , is primarily attributable to an increase in incentive compensation . real estate . story_separator_special_tag nnn generally utilizes debt and equity security offerings , bank borrowings , proceeds from the disposition of certain properties , and to a lesser extent , internally generated funds to meet its capital needs . nnn typically funds its short-term liquidity requirements , including investments in additional properties , with cash from its credit facility . as of december 31 , 2015 , there was no outstanding balance and $ 650,000,000 was available for future borrowings under the credit facility . as of december 31 , 2015 , nnn 's ratio of total debt to total gross assets ( before accumulated depreciation and amortization ) was approximately 33 percent and the ratio of secured indebtedness to total gross assets was less than one percent . the ratio of total debt to total market capitalization was approximately 25 percent . certain financial agreements to which nnn is a party contain covenants that limit nnn 's ability to incur additional debt under certain circumstances . the organizational documents of nnn do not limit the absolute amount or percentage of indebtedness that nnn may incur . additionally , nnn may change its financing strategy . 28 contractual obligations and commercial commitments . the information in the following table summarizes nnn 's contractual obligations and commercial commitments outstanding as of december 31 , 2015 . the table presents principal cash flows by year-end of the expected maturity for debt obligations and commercial commitments outstanding as of december 31 , 2015 . replace_table_token_18_th ( 1 ) includes only principal amounts outstanding under mortgages payable and notes payable and excludes unamortized mortgage premiums and note discounts and note costs . ( 2 ) excludes $ 20,113 of accrued interest payable . in addition to the contractual obligations outlined above , nnn has committed to fund construction commitments on leased properties . the improvements are estimated to be completed within 12 months . these construction commitments , at december 31 , 2015 , are outlined in the table below ( dollars in thousands ) : number of properties 27 total commitment ( 1 ) $ 116,394 amount funded $ 87,406 remaining commitment $ 28,988 ( 1 ) includes land , construction costs , tenant improvements and lease costs . as of december 31 , 2015 , nnn did not have any other material contractual cash obligations , such as purchase obligations , financing lease obligations or other long-term liabilities other than those reflected in the table . in addition to items reflected in the table , nnn has issued preferred stock with cumulative preferential cash distributions , as described below under “ dividends . ” management anticipates satisfying these obligations with a combination of nnn 's cash provided from operations , current capital resources on hand , its credit facility , debt or equity financings and asset dispositions . generally the properties are leased under long-term net leases . therefore , management anticipates that capital demands to meet obligations with respect to these properties will be modest for the foreseeable future and can be met with funds from operations and working capital . certain of the properties are subject to leases under which nnn retains responsibility for specific costs and expenses associated with the property . management anticipates the costs associated with the vacant properties or those properties that become vacant will also be met with funds from operations and working capital . nnn may be required to borrow under its credit facility or use other sources of capital in the event of significant capital expenditures . the lost revenues and increased property expenses resulting from vacant properties or uncollectibility of lease revenues could have a material adverse effect on the liquidity and results of operations if nnn is unable to release the properties at comparable rental rates and in a timely manner . as of december 31 , 2015 , nnn owned 21 vacant , un-leased properties which accounted for approximately one percent of total properties . additionally , as of january 31 , 2016 , less than one percent of the total gross leasable area of the property portfolio was leased to tenants that have filed a voluntary petition for bankruptcy under chapter 11 of the u.s. bankruptcy code . as a result , these tenants have the right to reject or affirm their leases with nnn . dividends . nnn has made an election to be taxed as a reit under sections 856 through 860 of the code , as amended , and related regulations and intends to continue to operate so as to remain qualified as a reit for federal income tax purposes . nnn generally will not be subject to federal income tax on income that it distributes to its stockholders , provided that it distributes 100 percent of its reit taxable income and meets certain other requirements for qualifying as a reit . if nnn fails to qualify as a reit in any taxable year , it will be subject to federal income tax on its taxable income at regular corporate rates and will not be permitted to qualify for treatment as a reit for federal income tax purposes for the four years following the year during which qualification is lost . such an event could materially adversely affect nnn 's income and ability to pay dividends . one of nnn 's primary objectives , consistent with its policy of retaining sufficient cash for reserves and working capital purposes and maintaining its status as a reit , is to distribute a substantial portion of its funds available from operations to its stockholders in the form of dividends . 29 the following table outlines the dividends declared and paid for nnn 's common stock for the years ended december 31 ( dollars in thousands , except per share data ) : replace_table_token_19_th the following presents the characterizations for tax purposes of such common stock dividends for the years ended december 31 : replace_table_token_20_th on january 15 , 2016 , nnn declared a

